Rental housing has become cheaper in major Russian cities

Demand for rental housing fell by 17%, while the supply of rental apartments increased by 31%
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Rental housing has fallen in price in major Russian cities, with demand falling by 17%. This was reported by real estate market participants.

Since the beginning of the special operation of the Russian Federation in Ukraine, the demand for rental housing in Moscow has decreased by 17%, the supply of rental apartments has increased by 31%. At the same time, the prices for renting one-room apartments fell by 4.5%, two-room apartments – by 5%, three-room apartments – by 5.5%, Pavel Lutsenko, director general of the federal portal Mir kvartyar, told Izvestia.

According to real estate expert Victoria Kiryukhina, the average cost of renting a one-room apartment since February 24 in the cities of millions has decreased by 1.7%, from 20.5 thousand. up to 20.2 thousand rubles. As for the two-room – the cost of them fell slightly – by 1%, from 56.1 thousand. up to 55.57 thousand rubles.

Pavel Lutsenko suggested that the number of those who lost their jobs due to economic problems and left the cities of millions is more than the number of people who switched to renting housing because they changed their minds to take out a mortgage. According to Victoria Kiryukhina, the number of apartments for rent has increased due to the fact that many who decided to move to another country and therefore began to rent housing. Timur Zaitsev, head of commercial real estate at Avito Nedvizhimosti, is confident that prices for long-term apartment rentals will stabilize in the near future.

Back in December 2021, it was reported that during the year the cost of rental housing in major cities of Russia increased by 31%. However, due to the sharp rise in the key rate may increase the cost of mortgages from developers.

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Rental housing has fallen in price in major Russian cities, with demand falling by 17%. This was reported by real estate market participants. Since the beginning of the special operation of the Russian Federation in Ukraine, the demand for rental housing in Moscow has decreased by 17%, the supply of rental apartments has increased by 31%. At the same time, the prices for renting one-room apartments fell by 4.5%, two-room apartments – by 5%, three-room apartments – by 5.5%, Pavel Lutsenko, director general of the federal portal Mir kvartyar, told Izvestia. According to real estate expert Victoria Kiryukhina, the average cost of renting a one-room apartment since February 24 in the cities of millions has decreased by 1.7%, from 20.5 thousand. up to 20.2 thousand rubles. As for the two-room – the cost of them fell slightly – by 1%, from 56.1 thousand. up to 55.57 thousand rubles. Pavel Lutsenko suggested that the number of those who lost their jobs due to economic problems and left the cities of millions is more than the number of people who switched to renting housing because they changed their minds to take out a mortgage. According to Victoria Kiryukhina, the number of apartments for rent has increased due to the fact that many who decided to move to another country and therefore began to rent housing. Timur Zaitsev, head of commercial real estate at Avito Nedvizhimosti, is confident that prices for long-term apartment rentals will stabilize in the near future. Back in December 2021, it was reported that during the year the cost of rental housing in major cities of Russia increased by 31%. However, due to the sharp rise in the key rate may increase the cost of mortgages from developers.

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