Last year, the typical monthly rent in the Northern capital surged by more than 40%, settling around 48 thousand rubles. The figures come from a report by Business Petersburg, based on data from the real estate agency Restate. The uptick was most pronounced in the Petrogradsky district, where rents climbed to 146 thousand rubles a month, an increase of 97 percent from the previous period.
Analysts describe a broad spectrum of prices across the city. At one end, a small studio converted from a room in a communal apartment could be rented for about 17.5 thousand rubles per month. At the other end, a luxury apartment boasting a 155-meter view in one of Saint Petersburg’s priciest buildings can command as much as 750 thousand rubles per month.
Rents in the historic center also rose sharply. In the Central district, the average rent jumped by 52 percent, reaching 82 thousand rubles. Nearby Admiralteysky district saw an 28 percent increase, with rents around 57.5 thousand rubles. In the most prestigious buildings in this area, rental rates can reach as high as 1 million rubles per month.
Across the Leningrad region, the overall rise was more modest but still notable, with an average increase of 14 percent. The most significant jump within the region occurred in the Lomonosovsky district, where rents grew by about 40 percent, while the Vsevolozhsky district saw an uptick of roughly 19 percent.
These developments have fed into a long-running debate among Russians about whether renting or purchasing a home with a mortgage is the smarter financial move. The question has gained renewed visibility as price trends push some buyers to weigh long-term costs against the flexibility of renting.
Looking ahead, many residents wonder what rent levels might look like in the coming year. Projections remain mixed, with some observers anticipating continued upward pressure in high-demand districts, even as some market players look for signs of stabilization in more affordable segments. The overall picture suggests that location, building quality, and apartment size will continue to drive the most pronounced differences in monthly payments.
In this climate, renters are advised to consider a few practical factors. Lease terms, maintenance responsibilities, and the inclusions in monthly payments can significantly affect the real cost of living year after year. Demand in central neighborhoods tends to outpace supply, supporting higher prices, while outlying districts may offer more favorable ratios of space to price. Prospective tenants should also account for potential future shifts in interest rates and mortgage availability, which can influence rent-to-buy calculations for long-term households. [Citation: Business Petersburg citing Restate data on Saint Petersburg rental trends]