10.02.2022, 14:13
Rented Housing has Risen in Price by 14% over the Year
Source: OREANDA-NEWS
OREANDA-NEWS. Rental rates for long-term rental housing in Russia in 2021 increased by 14% compared to 2020. Analysts of Avito Nedvizhimost reported this to Izvestia.
At the end of 2021, rental demand increased by 18% compared to 2020. The peak of demand was observed in the second half of the year: in addition to seasonal activity, a decrease in the availability of buying your own home affected, the company said.
The most noticeable trend was in St. Petersburg, where the dynamics of demand for the year averaged 47%, as well as in Yekaterinburg and Tyumen (+46%), they added.
“The main price increase occurred in the third quarter, when a seasonal surge in activity in the rental market due to the start of the business season and the school year coincided with changes in the conditions for issuing preferential mortgages and an increase in the Central Bank rate,” said Avito Nedvizhimost, head of the Secondary Real Estate department. Sergei Khakhulin.
Continued growth in mortgage rates and home prices is likely to support strong demand for rentals, he said, and it is highly likely that rental rates will continue to rise over the coming quarters. At the same time, supply will continue to grow, which may limit the potential for growth in rental prices, the expert added.
Among major Russian cities, rental rates increased fastest in Sochi (1.5 times), Kaliningrad (+33%) and Moscow (+22%), the company said.
In mid-January, specialists from the Etazhi company told Izvestiya that among the major cities of Russia, it is most profitable to buy one-room apartments for rent in Yekaterinburg. There, the payback period for housing with an area of 30 square meters. m will be about 9.3 years when buying for cash.
In second place in terms of payback "odnushki" in Novosibirsk, where the average cost of rent is 22.83 thousand rubles, and a square meter on average costs 93.6 thousand rubles. In this city, an apartment of 30 sq. m will pay off in 9.8 years. Chelyabinsk closes the top three. In this city, with an average cost of renting a one-room apartment of 12.2 thousand rubles, and a price per square meter of 55.1 thousand rubles, the payback period will be 10.8 years.
At the end of 2021, rental demand increased by 18% compared to 2020. The peak of demand was observed in the second half of the year: in addition to seasonal activity, a decrease in the availability of buying your own home affected, the company said.
The most noticeable trend was in St. Petersburg, where the dynamics of demand for the year averaged 47%, as well as in Yekaterinburg and Tyumen (+46%), they added.
“The main price increase occurred in the third quarter, when a seasonal surge in activity in the rental market due to the start of the business season and the school year coincided with changes in the conditions for issuing preferential mortgages and an increase in the Central Bank rate,” said Avito Nedvizhimost, head of the Secondary Real Estate department. Sergei Khakhulin.
Continued growth in mortgage rates and home prices is likely to support strong demand for rentals, he said, and it is highly likely that rental rates will continue to rise over the coming quarters. At the same time, supply will continue to grow, which may limit the potential for growth in rental prices, the expert added.
Among major Russian cities, rental rates increased fastest in Sochi (1.5 times), Kaliningrad (+33%) and Moscow (+22%), the company said.
In mid-January, specialists from the Etazhi company told Izvestiya that among the major cities of Russia, it is most profitable to buy one-room apartments for rent in Yekaterinburg. There, the payback period for housing with an area of 30 square meters. m will be about 9.3 years when buying for cash.
In second place in terms of payback "odnushki" in Novosibirsk, where the average cost of rent is 22.83 thousand rubles, and a square meter on average costs 93.6 thousand rubles. In this city, an apartment of 30 sq. m will pay off in 9.8 years. Chelyabinsk closes the top three. In this city, with an average cost of renting a one-room apartment of 12.2 thousand rubles, and a price per square meter of 55.1 thousand rubles, the payback period will be 10.8 years.
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