Apartments have not grown tenants – Business – Kommersant

The cost of long-term apartment rentals in major cities is declining. The trend is maintained due to low demand and supply continuing to grow: while competing for tenants looking for more budget options, owners are forced to make concessions. A trend reversal in the short term is unlikely, the beginning of the year is traditionally a low season. Although part of the demand now will be fueled by people who have decided to abandon the purchase of housing due to the high cost of lending, and tenants seeking to move to a cheaper apartment.

The average cost of renting one-room apartments in the 18 largest regional markets of Russia in December amounted to 21.6 thousand rubles. per month, two-room apartments – 31.3 thousand rubles. Relative to November, these figures decreased by 0.5% and 2%, respectively. Such data is provided by CIAN.Analytics. Although the downward trend in prices continues, experts pay attention to the slowdown in dynamics: last month, apartments fell in price by 1-3%. In “Etazhi” the average cost of renting one-room housing is estimated at 21.3 thousand rubles. per month, two-room – 26.3 thousand rubles. Over the month, the values ​​decreased by 0.9% and 0.3%, respectively.

Most noticeably, the average cost of renting one-room apartments, according to CIAN.Analitiki, decreased relative to November in Samara – by 5%, to 18.2 thousand rubles. per month.

Although this value is still 15% higher than last year. While in Krasnodar to rent similar housing now costs an average of 20.9 thousand rubles. per month. This is 3% lower than in November and 5% lower than in December last year. In St. Petersburg, according to the estimates of “Etazhy”, one-room apartments fell in price by almost 6% over the month, to 28.4 thousand rubles. per month. For two-room apartments, the decrease was 3.2%, to 43.6 thousand rubles. per month.

In Moscow, according to CIAN.Analitiki, renting a one-room apartment now costs an average of 43.9 thousand rubles. per month. Over the month, this figure fell by 2%, and over the year – by 8%. “Dvushki” for the same periods fell in price by 2% and 20%, respectively, to 70.5 thousand rubles. per month. Vladimir Rodionov, head of the Apple Real Estate rental department, points out that high-budget apartments in Moscow in the segment up to 250 thousand rubles. per month for the year fell by 10-20%, from 250 thousand rubles. — by 20–40%. “Demand is low, and owners are forced to reduce rates, hoping to hand over their facilities in December,” he argues. Proposals, according to the expert, are now three times more than a year earlier.

In the mass segment, according to Oksana Polyakova, deputy director of the rental department at Inkom-Nedvizhimost, the demand for long-term rental apartments in Moscow is now 50% lower than in December last year. But last year there was a boom and a shortage of liquid objects on the market, and this year there was a noticeable decrease in activity at the end of September, she points out. There is also an abundance of offers on the market: since September 21, the number of available lots, according to Ms. Polyakova, has increased by 25%, and now the exposition continues to grow, albeit not so actively, mainly due to landlords who are in a hurry to rent out their small apartments.

There is no talk of restoring demand in all major regional markets yet, says Alexei Popov, head of CIAN.Analytics.

The pressure on prices, according to the expert, is now combined with seasonality, migration processes and record-breaking competition between owners. In the last month alone, the total volume of supply increased by 10%. Olga Pavlinova, Director of the Leasing Department at Etazhi, believes that the market is also influenced by the expectations of tenants who believe that apartments should cost 10-15% below the declared prices. Owners have to give in so as not to delay the delivery of objects, she explains. Although many apartment owners, according to the expert, are trying to discuss the possibility of revising the rate in three to six months.

In the short term, seasonal factors may have an impact on the long-term rental market: in January-February, there is traditionally a lull, Ms. Polyakova states. In the spring, according to her, demand is usually a little more active, new lots will be added to the database. At the moment, the expert does not see the prerequisites for a noticeable increase or decrease in prices. “Traditionally, when demand is low, rental rates are reduced by 5–10%, and when demand grows, they rise by the same 5–10%,” the expert says.

In the future, Alexei Popov does not rule out that the demand for rentals will partly grow due to worsening lending conditions when buying a home.

“Renting an apartment in all cities is cheaper than paying a mortgage by taking out a loan with a minimum down payment, and given the Central Bank’s statement about a possible increase in the key rate, loans will not become cheaper,” he argues. Ms. Pavlinova also speaks of an increase in the activity of tenants seeking to change their rented apartment for a more affordable option. But based on the fact that such people are focused on housing with a minimum budget, the expert does not rule out a decrease in average rental rates by 5-10% in the short term.

Alexandra Mertsalova