supply on the long-term apartment rental market fell by 10% in the fourth quarter – Kommersant

Based on the results of the fourth quarter of 2023, demand on the Avito Real Estate portal for long-term rental housing decreased by 1%. Interest in two-room apartments decreased by 4%, in three-room apartments by 3%, and interest in studios began to increase by 11%. Over three months, supply decreased by 10%, with the largest decrease in the number of available one-room apartments (by 15%).

According to the portal, during the mentioned period, demand for rental apartments decreased in 29 out of 33 cities. In Stavropol – by 30%, in Voronezh and Tyumen – by 24%, in Bryansk – by 21%, in Saratov and Samara – by 18%. People became more interested in housing in Sochi (by 80%), Moscow (by 19%), Simferopol (by 8%) and St. Petersburg (by 7%).

The supply on the market also decreased, with the exception of Sochi (where the number of properties almost tripled), Sevastopol (an increase of 38%), Kaliningrad (by 17%) and Kazan (by 3%). In Moscow, over the last three months of 2023, supply decreased by a quarter.

Apartment rental prices on average across Russia increased by 15%; their growth was noted in 32 of the 33 cities participating in the study. Compared to the third quarter, housing rental prices increased in Volgograd (by 39%), Perm (by 35%), Chelyabinsk (by 32%), and in Moscow it increased by 20%.

As Kommersant reported, in conditions of restrained housing commissioning, ongoing population migration to large cities, changing demographic behavior, the return of relocants and the development of tourist housing, the key trends in the long-term rental market have become a shortage of supply and a prolonged rise in prices. In 2023, the cost of rental apartments in the country’s largest regional markets increased by almost a quarter.

Details – in the material “Kommersant” “Tenants dismantled the apartments”.

Laura Keffer