The average cost of renting a studio in St. Petersburg increased by 20-35% over the year and amounted to 26 to 42 thousand rubles, depending on the location, and “one-bedroom” and “two-bedroom” rose in price by an average of one and a half times. This follows from the data of apartment rental services and real estate agencies, which Fontanka analyzed.
Photo: Evgeny Pavlenko / Kommersant
August is traditionally characterized by peak demand in the rental market, but this year it was fueled by changes in the mortgage market: many had to abandon the purchase of an apartment in favor of renting. Prices usually decrease by winter, but mortgages that have become less affordable for citizens can make their own adjustments to the usual course of things.
How much does it cost to rent a studio in St. Petersburg now
When it comes to buying or renting a home, studios are the most popular example. According to Avito Real Estate, in August the average rental rate of such an apartment in St. Petersburg is 35 thousand rubles per month. In Yandex Rent, they talk about an increase in the average rate to 36.7 thousand rubles (+15.1% per month, +31.6% per year), in Cyan.Analytics” — up to 39 thousand rubles (+35% in the last 3 and 12 months).
The St. Petersburg Real Estate consulting center notes that studio rental rates have increased by an average of 20-24% over the year, and they differentiate by districts. For example, in the city center, renting a small car will cost an average of 42 thousand rubles (+20% per year). In residential areas such as Vyborgsky, Krasnogvardeysky, Kirovsky and Kalininsky, you can find cheaper options — around 26 thousand rubles per studio, which is also 24% higher than last year, when the same housing could be rented for 21 thousand rubles. In Primorsky and Nevsky districts, the average rate is 32 thousand rubles (+23% per year), in Moscow and Frunzensky — 36 thousand rubles (+20%).
If the kingdom is not enough
As for the larger apartments, the dynamics for “one-bedroom apartments” according to St. Petersburg Real Estate is slightly less dramatic: growth over the year from 15 to 19%. For the presence of a separate kitchen, you will have to pay an additional 3-6 thousand, depending on the area. The closer to the center, the bigger, of course.
At the same time, rental services in relation to St. Petersburg “one-bedroom apartments”, on the contrary, record a more rapid growth. So, according to Cyan, the average cost of renting a one-bedroom apartment in August increased by 45% year-on-year, to 47 thousand rubles per month, and Yandex Rent notes an increase in the median value by as much as 50.8%, to 42.1 thousand rubles. Also, according to Yandex, the median two—dollar rate has increased by more than one and a half times – to 69.9 thousand per year. The federal real estate company “Floors” talks about an increase in the rate for “one—bedroom apartments” by 52% per year, for “two-bedroom apartments” – by 45%.
It is clear that the data differ due to the different comparative base. The difference is most noticeable in the “three-way”. For example, Yandex fixes the median at 88.2 thousand rubles and the growth rate for the year by 18.5%, while Cyan notes the average value at 101 thousand rubles, which is 30% higher than it was a year ago. But the trend is obvious — the rent of the most sought-after housing has increased by 30-50% over the year.
“The current average rental rates are record, as well as the annual dynamics of their growth,” says Yuri Izosimov, director of the federal company “Floors” in St. Petersburg. — Restrains their gradual increase in the volume of supply at a discount. As a rule, these are apartments that the owners begin to rent in parallel with the sale. Since the deadline for the delivery of such apartments is limited by the buyer’s location, the owners are ready to make a discount for their tenants at the level of 10-15% of the real market rental rate. Such facilities are quickly rented by those who are interested in saving money and have no problems with moving.”
Interestingly, from the observations of Yandex Rent specialists, it follows that if the apartment is not rented within three days, the owners begin to reduce the rate in order to find a tenant faster.
Why is this happening
Firstly, it’s about seasonality. “The peak of tenant activity in the long—term rental market traditionally falls at the end of August – beginning of September, when the difference in demand compared to other periods, for example, the beginning of summer and spring, can reach 50%. For this reason, the rental price may increase slightly by the end of September,” said Konstantin Kamenev, head of the long—term rental category at Avito Real Estate.
Secondly, the demand was influenced by radical changes in the mortgage market. “Restrictive mortgage conditions on the secondary market, combined with the completion of the program of “unaddressed” preferential mortgages for new buildings, stricter rules on family and IT programs – all this contributes to the transfer of failed buyers to the rental market,” says the head of Cian.Analysts” Alexey Popov.
In addition, among the reasons for the rise in rental prices, he highlights the persistence of the trend towards the return of those who left for other countries and regions and a reduction in supply, including due to the fact that it is more profitable for investors to withdraw their apartments not for long-term, but for daily rent.
At the same time, the situation in the mortgage market has affected not only the volume of demand, but also the volume of supply. According to Yandex Rent, over the past month it has increased for all types of apartments (most of all for “three—piece” apartments – by 13%), except studios. During the period of active demand, this is an unusual trend.
“Not all secondary buyers find it comfortable to apply for a mortgage, as a result, the demand for ready-made housing is decreasing. Owners who are not in a hurry to sell and are not ready to reduce the cost, begin to rent out their real estate in order to provide themselves with additional income until the mortgage conditions change. So, some of the secondary apartments are gradually moving to the long—term rental market, thereby the supply drain slows down, and at the same time the growth of median rates slows down,” explains Roman Zhukov, head of the Yandex Rent service.
But along with older apartments, “yesterday’s new buildings” with fresh repairs and a better condition of the house as a whole are also entering the market. Their rental prices are naturally higher.
When will prices go down and will they go down
If we follow the seasonal vector, the period of high demand traditionally ends by mid-early November. “The seasonal decline in the rental market is observed closer to the New Year holidays, when most of those who wish have already provided themselves with housing. During this period, both demand and supply traditionally decrease, which is a natural consequence of the upcoming long weekend,” recalls Olga Trosheva, director of the St. Petersburg Real Estate consulting center.
However, this year, precisely because of the mortgage situation, the period of high demand may be more protracted, Yuri Izosimov notes. “As long as loans remain expensive, rental rates are unlikely to decrease,” he said. — By the end of the year, the growth of rental rates may slow down as the market becomes saturated with supply, but it is hardly worth waiting for a grandiose decrease until the affordability of buying your own home increases again.”
Yandex Rent agrees that it is not worth waiting for a large-scale reduction in rates. While renting a home is a more budget—friendly alternative to buying it, this trend will determine the long-term rental market in St. Petersburg and throughout Russia.
“The decrease in rental rates in St. Petersburg (or at least a less noticeable increase) may affect only large apartments of the mass segment. So, even during the period of increased activity in the market, we note that the median rental rates increased the least in the “three-piece” segment. This trend is explained by the generally low demand for the format, and perhaps the trend will continue in the future,” said Roman Zhukov, head of the service.
Evgenia Gorbunova,
Photo: Evgeny Pavlenko / Kommersant
Источник: www.fontanka.ru
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