For a third consecutive month, rental offers across Russia have continued to soften, yet in several major cities averages have edged up by nearly 3 percent. Local media reports suggest that prices could climb even more through the winter, a trend attributed to forecasts from real estate analysts at Etazhi.
Etazhi analysts note that the peak demand season this year began earlier than typical, arriving in July instead of August. By early September, several markets only were able to secure supply levels 25 to 30 percent below their long-term averages. That tighter availability has translated into higher rental rates in those areas.
Two factors may amplify this movement. First, a rise in the cost of ready mortgages could push more buyers toward renting temporarily, lifting demand in a market already short on listings. Second, if active housing supply remains constrained, price pressures could intensify further across the rental segment.
Forecasts indicate that overall rental prices might rise by five to ten percent during the winter months due to the shortage of free units. In August, several cities including St. Petersburg, Krasnoyarsk, and Ufa reported increases of two to three percent in the most expensive segments of the market.
Data from the same period shows that housing purchase prices also climbed noticeably in early August. Chelyabinsk and Volgograd led the gains by showing growth above one and a half percent, signaling that inflation is affecting both renting and buying in the Russian real estate market.
Analysts concluded last week that the cost of renting across the Russian Federation has shown a measurable uptick on a daily basis as the market tightens and seasonal demand rises. The combination of fewer available units and sustained buyer interest has kept price momentum firmly in place as the market moves into the shoulder season.
Additionally, Russian resorts previously identified as having the most affordable rental rates in August remained characteristically inexpensive, underscoring how regional variations continue to shape the overall market picture. With the winter period approaching, stakeholders in both rental and sales spaces are watching occupancy rates, inventory levels, and financing conditions closely to gauge how the next few months will unfold. [Etazhi forecasts] [Industry notes] [Market data sources]