Tenants dismantled inexpensive “squares” – MK

Growth factors

During the first three quarters of 2023, rental apartment rates grew moderately and evenly. Within the limits of inflation. However, in October-December they showed an unusual double-digit increase. According to the general director of the World of Apartments portal Pavel Lutsenko, over the past three months, rent has risen in price the most in Yakutsk, where rates for one-room apartments increased by 38.6%, for two-room apartments – by 35.7%, and for three-room apartments. – by 44.1% (see table below). And also in Ulan-Ude (+38.9%, +42.2%, +29%), Kirov (+34.4%, +16.6%, +39.1%), Naberezhnye Chelny (+24 .1%, +26.3%, +31.7%), Perm (+28.9%, +26.2%, +21.5%), Cherepovets (+23.5%, +24.6 %, +23.9%), Murmansk (+21%, +21.9% and +26.5%), Cheboksary (+14.7%, +37.7%, +12%), Togliatti (+ 19.1%, +17.5%, +23.4%) and Novosibirsk (+30.9%, +21.8%, +5.2%).

In the three largest regional residential real estate markets, indicators also remained in the positive: in Moscow, tariffs increased by +18%, +14.8%, +10.8%, in the Moscow region by +10%, +7.6%, +4. 4%, in St. Petersburg by +18.8%, +8.2%, +4.8%, respectively.

Weak growth and even a decrease in rates were observed in Sochi (-16.6%, -10% and -3.6%), Makhachkala (+7.2%, -3%, -15.9%), Magnitogorsk (+11 .9%, –0.7%, –15.8%), Rostov-on-Don (+4.9%, –4.5%, –4.5%), Vologda (+0.9%, +7.4%, –11.8%). On average, in all major cities of the country, one-room apartments increased in the fourth quarter of 2023 by 13.7%, to 21,294 rubles/month, with two rooms – by 10.5%, to 27,330 rubles/month ., with three – by 7.4%, up to 34,008 rubles/month.

According to Olga Pavlinova, director of the rental department of the federal company Etazhi, apartment rentals rose in price last year for several reasons. First, demand for affordable rental housing clearly outstripped supply. Secondly, the decrease in the availability of mortgage programs for finished housing had an impact. “For some Russians, it has become cheaper to rent temporary housing than to buy their own. Plus, those who, in the wake of the rush, sold their existing living space and bought a new building under construction, are forced to rent temporary housing. Naturally, the most affordable options are removed first of all, their share in the total supply is reduced, and the average price rises,” noted MK Pavlinova. Thirdly, the composition of the supply has changed, the tenants themselves have become more demanding about the quality of repairs and furnishings of the apartment, and this also affects rental rates.

As Oksana Polyakova, deputy director of the apartment rental department at INCOM-Real Estate, noted, the interest of tenants in the mass rental market focused exclusively on economy-class properties. Such lots quickly left the exhibition. According to her, demand was also stimulated by clients moving from the sales segment amid tightening housing lending conditions. In addition, relocants are returning to the country, those whose remote work format has been cancelled.

“Rent rates were rising due to inflation, rising housing and communal services tariffs and population migration to large cities, where new military-industrial complex factories opened,” Lutsenko added. It should be noted that in all of the above-mentioned regional centers, which are leading in the growth of rental rates, military and dual-use products are produced.

Moscow specifics

In Moscow, to the above factors, we can safely add the renewal of the housing stock and new preferences of tenants. “A new generation has grown up, adult children who are moving out from their parents and renting separate housing. They have higher demands on the quality of finishing and infrastructure in the location. They are looking for maximum convenience and comfort. Owners are adapting their properties to these demands and carrying out renovations to increase liquidity. Accordingly, investments must pay off; higher quality costs a lot of money,” Yulia Dymova, director of the secondary real estate department at Est-a-Tet, told MK.

According to her, studios and two-room Euro-format apartments are leading in requests. In her opinion, this is due to the rental budget, as well as the category of tenants. Among those renting housing there are many students, citizens living alone, and young married couples without children. They choose studios based on their budget and the space they need to live.

Inside the Moscow Ring Road, according to Polyakova, economical apartments are in greatest demand – now their price range is 30-45 thousand rubles. instead of 25–35 thousand rubles. a year ago. There are no discounts. Currently in old Moscow (without ZelAO) the cheapest apartment is rented for 32 thousand rubles. per month on Molostov Street (Ivanovskoe district, Eastern Administrative District), on the 1st floor of a 9-story building. This offer is for tenants without children or pets. For 33 thousand rubles. per month you can rent an apartment in the Northern Izmailovo district (VAO) for 35 thousand rubles. – in Timiryazevsky district (SAO).

Most budget options, of course, are concentrated in New Moscow and Zelenograd, emphasized Ekaterina Berezhnova, chief analyst at Miel Group. According to her, the volume of supply is small and continues to decline: compared to the beginning of spring, it has halved in all districts. According to Pavlinova, the average rental rate for one-room apartments in Moscow is 54.1 thousand rubles, for two-room apartments – 75.3 thousand rubles.

Summer forecasts

In the near future, Olga Pavlinova does not expect a significant reduction in average rental rates. Against the backdrop of rising rates, budget apartment options in the databases do not stay long. “In the short term, rental rates will increase at 0.5–1% per month. A sharper growth is limited by the capabilities of tenants,” the expert believes. Oksana Polyakova also does not see the prerequisites for a noticeable reduction in prices: “Supply has not yet recovered, and there remains an acute shortage of liquid economical offers.”

According to Yulia Dymova, it will be possible to assess the situation on the rental housing market in mid-February, when the formation of properties for renting in the spring begins. In the first quarter, according to her forecast, the price will most likely remain the same, without any special adjustments. From the middle of the second quarter, it may increase slightly, but it all depends on the volume of supply.

This year, the growth in rental rates will continue, Pavel Lutsenko is sure. He expects a particularly active rise in rental prices after the abolition of preferential mortgages in the primary market. Let us remind you that the corresponding state program is valid until July 1, 2024. Thus, a new powerful wave of rising rental rates will most likely form in August of this year.