The growth of tourist activity contributed to an increase in the cost of short-term rentals in the largest cities of the country

The growth in tourist activity contributed to an increase in the cost of short-term rentals in the country’s largest cities by 11–12% per year. The leaders in terms of dynamics are Ufa, Samara and Moscow, and in some cities of Crimea prices are falling. Due to high demand, the daily rental business is becoming more popular: the number of available apartments has increased by more than 1.5 times over the year.

The average cost of short-term rental apartments in the largest cities of Russia from February 2023 to February 2024 increased by 11%, to 4.66 thousand rubles. per night, according to Sutochno.ru. On average, one apartment is rented for four days, the company clarifies. General Director of Sutochno.ru Yuri Kuznetsov attributes the dynamics to the growth in the number of tourist trips in the Russian Federation and general economic factors. According to Ostrovok.ru, the average cost of a night in an apartment over the year increased by 10%, to 4.1 thousand rubles. Cyan.Analitika noticed an increase in short-term rentals by 19%, to 2.8 thousand rubles. per day.

Prices are rising despite increased supply. The head of Cyan.Analytics, Alexey Popov, says that over the year the total number of short-term rental advertisements on the site increased by 57%, to 99 thousand advertisements. The most noticeable dynamics is in Makhachkala, where the number of advertisements has tripled. In Irkutsk and Nizhny Novgorod, the figure doubled. According to Mr. Popov, tourist activity increases the attractiveness of short-term rental apartments for numerous investors who previously invested in new buildings.

The most pronounced dynamics in the cost of short-term rentals in Sutochno.ru was noted in Ufa, where prices over the year increased by 37%, to 2.99 thousand rubles. per day. In Samara, short-term rental prices increased by 29%, to 2.95 thousand rubles, in Moscow – by 24%, to 4.7 thousand rubles. per day. Ostrovok.ru noticed an increase in prices on popular winter destinations. In Murmansk, according to the service, a night in an apartment has risen in price over the year by 29%, to 4 thousand rubles, in Kirovsk – by 28%, to 5.5 thousand rubles.

According to Sutochno.ru, the only million-plus city where the average cost of short-term rentals decreased over the year was Omsk, where the figure decreased by 7%, to 1.97 thousand rubles. per day. A decrease in prices is also typical for some cities of Crimea, the demand for which is limited by a moratorium on flights and military operations in Ukraine. According to Tvil.ru calculations, apartment rent in Yalta fell on average by 9.9% over the year, to 3.03 thousand rubles. per day.

The popularity of short-term rentals as a means of accommodation is growing. OneTwoTrip representative Elena Shelekhova says that the share of apartments in the structure of bookings for February has increased over the year to 11.3%. Ostrovok.ru talks about growth from 16% to 19%. As Ms. Shelekhova notes, the average cost of accommodation in this format is comparable to three-star hotels. Director of Development and Communications at Tvil.ru Oksana Shustikova believes that renting housing remains more profitable, although the difference is not so great: hotels are 9% more expensive on average.

According to OneTwoTrip, the average cost of a night in a three-star hotel increased by 20% over the year, to 5.4 thousand rubles. per day. Yandex Travels talks about an increase in the cost of hotel accommodation in general by 32%, to 6.6 thousand rubles. Analysts noted the most noticeable dynamics in Krasnodar – by 39%, to 4.73 thousand rubles, in Ufa – by 35%, to 5.27 thousand rubles, and Sochi – by 33%, to 10.98 thousand. rub. per night. In Yalta, according to the service, accommodation prices fell by 16%, to 6.7 thousand rubles. average.

There are still few prospects for expanding exposure in the short-term rental market through long-term rentals, since activity in the latter is also growing. According to Avito Real Estate estimates, in January, year-on-year demand for long-term rentals in major cities increased by 16.1%. The average cost of renting one-room apartments in Moscow increased by 28%, to 55.9 thousand rubles. per month, in St. Petersburg – by 27%, up to 36 thousand rubles. Oksana Shustikova notes that owners mainly choose the form of housing rental based on their preferences. “In a tourist city, if you can invest in an apartment, daily rent can bring 1.5–2 times more profit,” she points out.

Alexandra Mertsalova