Prices for renting apartments in Moscow collapsed
[ad_1]
In October, long-term apartment rentals fell in price in most major Russian cities. The seasonal decline in demand was reinforced by the announcement of partial mobilization and the fall in citizens’ incomes. According to experts, sharp fluctuations in the cost of rental housing should not be expected until the end of this year. Unless, of course, geopolitics intervene again.
According to CIAN.Analytics, in October the average cost of long-term rental of one-room apartments in 16 Russian cities with a million population decreased by 3% compared to September, to 21.6 thousand rubles. per month, two-room apartments – by 4%, up to 33.2 thousand rubles. As Olga Pavlinova, director of the Floors rental department, told MK, over the previous month, the most expensive rental of one-room apartments fell in Moscow (-3%), Samara (-2%), St. Petersburg (-1.8%), Krasnoyarsk (-1.4%) and Rostov-on-Don (-1.2%), but the rates increased in Perm (+4%), Volgograd (+3.8%), Yekaterinburg (+3.3%), Chelyabinsk and Nizhny Novgorod (+3% each). In most cases, the changes are related to an imbalance between supply and demand. In some cities, there has been a stronger recovery in supply and increased competition for tenants, where rates have already begun to decline, in others there is still a shortage of available supply, and rates are rising.
“After the announcement of mobilization, the number of requests to rent an apartment increased by 5%, while demand, on the contrary, decreased by about 7%,” said Oksana Polyakova, deputy director of the INCOM-Realty apartment rental department. According to her, now the average cost of supplying a 1-room apartment within the old boundaries of Moscow is 47 thousand rubles, a 2-room apartment – 75 thousand, a 3-room apartment – 89 thousand. SEAD and SAO. In October, the TOP-5 economical apartments in old Moscow included objects with prices from 25 thousand rubles. up to 29 thousand rubles – in the districts of Veshnyaki (VAO), Golyanovo (VAO), Golovinsky (SAO), Severnoye Izmailovo (VAO) and Severnoye Medvedkovo (SVAO).
At the same time, the average price in the area is no longer as relevant as it used to be. “Now there are no a priori cheap metropolitan areas. With large volumes of new construction of good quality, the rates for apartments in new buildings are quite high compared to the old fund. In fact, this is the first time in the recent history of Moscow that local construction in different districts greatly corrects the price picture,” said Yulia Dymova, director of the Est-a-Tet secondary real estate sales office.
As Maria Zhukova, Managing Director of the Miel real estate office network, noted, this year the volume of supply increased from month to month, with the exception of August-September, the traditionally high season in the rental market. True, this year the high season turned out to be shorter than usual. “Today, the tenant has a choice – you can slowly select an object to suit your requirements,” says Zhukova.
According to Oksana Polyakova, the exposure period has increased to a week or two against 1-3 days in mid-September. But economical liquid objects leave advertising in a matter of days.
As always, the greatest demand is for one-room and two-room apartments in good condition, with furniture and appliances, close to metro stations. Of the new trends, Dymova noted the growing popularity of apartments in business class residential complexes: “Discounts for such objects are more than in the comfort class and in general in the budget segment. In the comfort class, discounts are smaller and there are fewer opportunities for discounts due to the fact that the rate itself is relatively low. Accordingly, there are fewer opportunities for large discounts in this segment.” Therefore, now tenants can often choose a business class and live in more comfortable conditions for a comparable cost.
“Landlords have become much more loyal,” says Dymova. – Children and dogs are no longer perceived as an obstacle by default, while the owners are not always ready to put up with cats, but they have also definitely become more friendly. The chances of a discount are now great. Individual bargaining for a specific client is now working very well. That is, now the offer price is not indicative, and it is almost impossible to find out the final price of the transaction. Multi-room apartments can cost less as an apartment with a room less due to a discount, a kind of “room as a gift”.
As realtors admit, wanting to rent an apartment with low overall demand, about 40% of landlords today agree to accommodate tenants with children and pets, about 20% are becoming less demanding in relation to the composition and nationality of tenants, about 40% are ready to split the amount of the security deposit into two parts (to reduce the one-time financial burden on the tenant). With increased demand, the number of tolerant landlords is usually halved.
“So far, owners are reluctant to provide discounts, but along with a decrease in demand on the rental market, discounts and preferences always come to tenants. Therefore, landlords are already ready to reduce rental rates by 5–10%,” said Oksana Polyakova. She does not expect cardinal changes in the market until the end of this year. “In addition to the winter decline, the market will be affected by the competition of landlords, the low solvency of tenants and the general situation of uncertainty due to the tense political and economic situation. Under such conditions, there are no prerequisites for rising prices and demand,” the expert added.
According to Olga Pavlinova’s forecast, the volume of supply will continue to grow, while demand will be more restrained. And this is quite normal for the rental market during this period of the year. Naturally, the growing volume of supply will initially hold back further growth in rates, and then intensify their decline. Therefore, now it is important to consider more affordable and comfortable options for temporary housing for those who rented an apartment at the peak of demand and price growth a year ago. “We are seeing an increase in corporate activity, companies have begun to apply more often for the selection of apartments for their staff – this is also a positive trend for the market. A full recovery in supply is expected by January-February next year,” the analyst concluded.
Newspaper headline:
“The chances of a discount are great now”
[ad_2]
Source link
