Experts told about the growth of rental housing supply in million-strong cities

The supply of rental housing is replenishing in Russia's largest cities: the average exposure of rental apartments in cities with a million inhabitants increased by 15.3% over the month. The number of rented lots in November increased most of all in Rostov-on-Don (+37.7%), Voronezh (+31.7%), Chelyabinsk (+27.4%), Krasnoyarsk (+26.2%) and Krasnodar (+25.5%). In Moscow the supply grew by 19.3%, in St. Petersburg - by 10.8%. This was reported to "Izvestia" on December 3 in the service "Yandex Rent".

"The increase in supply is due not only to the transition of yesterday's new buildings - investment apartments bought specifically for rent - in the segment of rental housing or the adjustment of demand compared to the peak August and September, but also the overflow to the long-term rental market unsold lots from the secondary market. This strategy is popular among real estate owners today and will continue in 2025. So far, the exposition period of the secondary market remains quite long: in cities with a million inhabitants in January-October it increased by 35% compared to the same period last year. On average in megacities the announcement of housing sale is in the exposition for 74 days. In January - October 2023, this figure was 55 days. Those who are not ready to wait for such a period or make a significant discount to speed up the sale, begin to rent apartments to ensure a stable income", - said the head of "Yandex Rent" Roman Zhukov.

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However, even despite the increase in the exposure, in most cities with a million people there is a shortage of rental housing of certain types of room types, as the demand for rent still significantly exceeds the supply. The cheapest lots leave the exposition especially quickly, and apartments with rates significantly higher than the median rates for the location remain in the realization longer, affecting the cost of rent in the city as a whole. This results in continued year-on-year price growth against the background of only a slight seasonal decline, and in some major Russian cities even an increase in rental prices during the month.

In November relative to October 2024, rental housing rates in Russia's largest cities remained virtually unchanged. The median full price in million-strong cities, taking into account all types of room types, amounted to just over 38 thousand rubles, which is only 3% lower than in October. At the same time, in absolute equivalent, the reduction in the median rate amounted to about 1 thousand rubles.

Despite the insignificant seasonal decrease in rates for the month, all major cities of Russia registered annual growth of median prices. The cost of long-term rent for all types of apartments in million-strong cities increased by 21.8% compared to November 2023. At the same time, rental apartments in Ufa (+43.1% over the year, up to Br26 thousand), Nizhny Novgorod (+33.3% over the year, up to Br40 thousand), Rostov-on-Don (+32.4% over the year, up to Br35 thousand), Kazan (+31.7%, up to Br49 thousand) and St. Petersburg (+31.2%, up to Br49 thousand) rose in price the most over the year.

The day before it was reported that in the Russian Federation began to reduce the supply in the market of new buildings. This trend was confirmed to "Izvestia" by several representatives of the industry. Thus, according to the data of the service "Yandex Real Estate", at the end of October in comparison with September it decreased by 4% with the median cost of 1 sq. m. in cities with a million inhabitants of 171 thousand rubles.