Elite tenants are returning to apartments – Business – Kommersant
[ad_1]
In August, the rental market for expensive housing in Moscow began to intensify. The number of transactions shows positive dynamics, but is still 20% behind last year’s figures: this share has traditionally been occupied by expat tenants. Taking advantage of their absence and favorable market conditions, many tenants who remained in the city decided to improve their living conditions. The average budget of their demand for the year decreased by almost 30%, consultants calculated.
In August, the number of transactions in the elite rental market in Moscow increased by 54% compared to July and by 50% compared to March, when the market showed a sharp decline. Intermark Real Estate cites such data in its study, characterizing this dynamics as the first significant increase in demand this year. But relative to the values of the same period in 2021, the number of expensive rental transactions in Moscow decreased by 20%, analysts calculated. They attribute the remaining gap to the withdrawal from the market of foreign tenants, who formed about 20% of demand last year.
The jump in demand in the long-term rental market in August is traditionally seasonal, associated with the end of vacations and preparation for the school year. But this year, market participants took it more positively after being dictated by general uncertainty and departure part of potential tenants abroad this spring. Although not all market participants are yet ready to talk about an active recovery: Apple Real Estate indicated in early September that seasonal growth this year is not as pronounced as usual, which is expected given external factors.
Anatoly Dovgan, Director of the Market Monitoring and Valuation Department at Intermark Real Estate, draws attention to the fact that in August the number of announcements from owners decreased by 7% under the pressure of growing demand. This trend, according to him, was refracted for the first time since the beginning of the year: before that, the volume of supply showed an increase. At the same time, the specificity of the market has also changed. Intermark Real Estate explains that, taking advantage of the favorable market conditions dictated by the departure of expats, tenants who decided to move in order to improve their living conditions have increased activity on the market. At the same time, the activity was increased by the clients, who took a wait-and-see position regarding the purchase of their own housing.
The change in the tenant profile and the flexibility of the owners contributed to lower prices.
The average demand budget in the high-budget rental market, according to Intermark Real Estate, in August amounted to 196 thousand rubles. per month.
Since July, it has decreased by 2%, and since January – by 22%. The fall relative to August 2021 is estimated by consultants at 28.8%. Apple Real Estate does not expect a noticeable decrease in the cost of high-budget rental apartments in the long term, but does not exclude that a 10-15% adjustment is possible in the next two months. The dynamics of the market, according to analysts, now largely depends on the restoration of tenant activity to the level of 2021.
A positive trend in the long-term rental market ahead of the business season experts earlier fixed and in the mass segment. Thus, according to Cyan.Analytics, the increase in rates in July and August in most major cities compensated for the spring decline. This happened against the backdrop of an increase in tenant activity: in August, this figure increased by 30% compared to July and by 60% compared to the background values of spring.
[ad_2]
Source link
