Mortgage broker Rakuta: housing rent in Russia will become cheaper in the summer
In June-July 2024, rental prices in Russia will decrease by 5-10 percent. Such dynamics in the rental housing market were predicted by mortgage broker Dmitry Rakuta in conversation with Gazeta.ru.
“It’s worth discussing this issue with the owner in advance, or renting a house in advance, but at the same time asking the owner to be able to negotiate on the rental rate,” the expert advised.
According to Rakuta, June and July are the most profitable months for renting apartments. Therefore, it is better to look for rental housing before August. At the end of summer, renting an apartment will be more difficult, since all the good options may be sold out, and demand will increase due to those returning from vacation and applicants.
In general, the broker does not expect a drop in interest in rental housing as long as market mortgage rates remain at 17-18 percent per annum. In such conditions, housing loans will remain unaffordable for many Russians, and they will choose to rent apartments instead of buying their own.
Earlier, the State Duma stated that the only way to make housing affordable for Russians is to massively build houses for long-term social rent.
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