While the demand for rental apartments in Russia decreased by 5% throughout the year, the demand for studios increased by 15%. This is evidenced by the data of Avito Real Estate, which socialbites.ca studied.
Supply dropped further by 11%, making it easier for landlords to find tenants.
“Despite the slight overall decline in demand, property owners are finding it easier to rent their properties. Supply has noticeably decreased, so each property is receiving more feedback from tenants. Konstantin Kamenev, head of the long-term rental category, said that due to high mortgage rates, many people prefer to rent rather than buy housing.
Rental demand increased in 11 of 39 provinces. The leaders are Khabarovsk (+15%), Vladivostok (+11%), Sevastopol (+12%) and Kaliningrad (+11%). +6% in Moscow, St. +2% in St. Petersburg.
Supply increased in a third of cities; the most were Vladivostok (+88%), Krasnodar (+21%), Chelyabinsk (+15%) and Ulan-Ude (+13%). However, there was a sharp decline in two capital cities: St. -32% in St. Petersburg, -27% in Moscow.
During the year, average prices increased by 20% to 30 thousand rubles. monthly. Growth leaders are studios and one-room apartments (+25%). Prices for “kopeck pieces” increased by 17% to 35 thousand rubles. The price of 4+ room apartments decreased by 12% to 150 thousand rubles.
The cheapest places to rent are in Bryansk (15 thousand rubles), Kirov (16 thousand rubles), Yaroslavl and Ulyanovsk (18 thousand rubles each). The highest rates are in Moscow (80 thousand rubles), Sochi (55 thousand rubles), Khabarovsk (45 thousand rubles) and St. in St. Petersburg (35 thousand rubles).
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Source: Gazeta
Ben Stock is a business analyst and writer for “Social Bites”. He offers insightful articles on the latest business news and developments, providing readers with a comprehensive understanding of the business world.