Demand for Rented Apartments Is Recovering in Russia

With the progressive reinstatement of offline training and employment and the introduction of new tenant categories, the liquid offers are gradually being washed out on the rental market in the long term.

The average price dynamics remains limited, but retailers report that in certain instances, the owners increase them considerably. Following market stabilisation and growth in supply in November and December, Kommersant said, the conditions for reassessed contracts may be revalued.

The average long-term rent cost in September of a one-room apartment was 16.8 thousand rubles, two-room – 22.9 thousand rubles in Russia’s 16-largest cities. CIAN analysts provide such data . The average costs rose by 0.8 percent compared to August, according to their estimates.

The CIAN Center’s Chief Executive,  Alexei Popov, draws the attention to the overall slowdown of long-term rent price rise in September: the same rates were above one percent at the end of August.

This shows that the seasonal element has a significant importance, he added.

 Avito Nedvizhimost believes that, in Russia, the average long term rental costs in general are currently 24,8 thousand rubles a month, without dividing them by the number of rooms in apartments.

The average price of renting a single-room apartment in Moscow is currently 38,5 000 rubles. Two-room apartment each month – 52,2 thousands of rubles, according to CIAN calculations. These indices rose by 1.9 percent and 1.2 percent respectively against the backdrop of strong demand throughout the month.

In general, the market for long-term rentals has already returned to 2019, according to Olga Pavlinova, director of the Rental Department at Etazhi.

According to Mrs Pavlinova, there was a genuine supply deficit in the marketplaces of the big cities, which in some instances enabled owners to choose their conditions and increased prices of liquid supplies excessively.