“Izvestia”: rental housing in Russia in the fall may rise in price by 10-20%
Rental housing in Russia may rise in price by 10-20 percent in the fall. Such a forecast “Izvestia” provided by real estate market participants.
It is noted that in the spring there was a drop in rental rates by 8-10 percent. This happened due to increased competition in the market, high volatility of the ruble exchange rate against foreign currencies, as well as an increase in the key rate.
“As a result, the rise in the cost of mortgages, part of the sellers from the secondary market went into the rental segment, postponing transactions for a period of uncertainty,” explained Victoria Kiryukhina, an expert at Cyan.Analytics.
According to experts, prices will rise with the start of the business season, as well as studies at universities and colleges. The most noticeable increase will be in the average rental rate in Moscow and St. Petersburg, where it sank more than in other large cities.
“This year in autumn in Moscow and St. Petersburg, the average cost of rent will increase by at least 10 percent. And for liquid lots – mini-studios with an area of 10-15 square meters, small hotel-type apartments – and 20 percent, ”said Marina Lashkevich, a leading expert at BuyBuyHouse.
Earlier it was reported that in August the average cost of long-term rental of one-room apartments increased. In 18 key locations for the Russian market (million-plus cities, as well as the Moscow and Leningrad regions), it amounted to 20.8 thousand rubles per month, two-room – 31.2 thousand rubles. Since July, renting such housing has become more expensive by 3.5 and 3 percent, respectively.
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