The increase in apartment rental costs in 2024 affected 65% of surveyed Russians, reports the press service of the financial market Vyberu.ru.< /p>
„For 45% of respondents, the increase is 15-20% of the original price, and for 20% - from 20-30%. 10% of respondents have not noticed a change in prices, and the remaining 25% of respondents themselves are landlords who have either already increased or plan to increase the rent in the near future, company representatives said.
Analysts of the platform surveyed 3,000 Russians aged 18 to 60 to find out if the respondents had noticed an increase in the cost of renting apartments. Thus, the changes affected not only the new ads for apartments for rent, but also the existing contracts, which the owners offered to renegotiate. Some owners (16%) plan to increase the price by up to 50%, explaining their decision both by the increase in the cost of utilities and by the rising costs that will be compensated by renting out the property.
According to the director of Vyberu.ru's communication policy department, Anna Romanenko, a recent survey conducted by the company showed that more than 60% of respondents have so far refused to buy apartments with a mortgage, 11% prefer to rent property instead of taking a home loan. “Demand for rental housing is also increasing due to the return of relocators, so the amount of liquid real estate for long-term rental in the budget segments is decreasing, creating a fever”, she believes.
According to the expert, the prices can be adjusted if the mortgage payment falls to the rent price. “The Bank of Russia may start reducing the key interest rate in the second half of 2024 if it reports a steady decline in inflation, after which market mortgage conditions may become more affordable for Russians,”, she noted.
According to DOM.RF, the cost of renting an apartment in the first quarter of 2024 decreased by 6-7% compared to the fourth quarter of 2023, but on an annual basis the rental price increased by about a third.
You can see detailed statistics on average property prices in Bulgaria by cities and neighborhoods HERE