Even by rough estimates, the rent will be 30-35% lower than the monthly mortgage payments. At the same time, if the money intended for the initial payment is put on deposit, then the monthly deductions will be equal to the cost of rent
Renting an apartment in million-plus cities this fall is more profitable than taking out a mortgage, according to RBC-Real Estate. Renting a one-bedroom apartment will cost almost 2.5 times less than the monthly loan payment for the purchase of the same apartment.
CIAN analysts, at the request of RBC, compared the prices for renting and buying on credit a one-room apartment with a floor area of 38 meters, its cost is not called. The first payment is 20%, the term is 25 years, the rate is 21% per annum. With such parameters, experts counted a monthly payment of almost 180 thousand rubles. Renting this conditional “one-bedroom apartment”, as stated in the publication, will cost 72 thousand rubles per month. The numbers are, of course, a little surprising. You can rent a studio apartment in Moscow much cheaper: there are many offers for 40-45 thousand rubles on the same CYAN. Although you can find options for 100 thousand. A lot depends on the housing itself and the location. There are also questions about calculating the cost of a mortgage.
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But in general, it is really better to rent an apartment now, rather than buy, if there is such an opportunity. Financial market expert Andrey Barkhota continues:
Andrey Barkhota, financial market expert, “If we consider the option of a well-organized lease and at the same time a mortgage transaction for the same apartment in Moscow, for example, we will get that rental payments will be approximately 30-35% lower than similar mortgage terms. Mortgages now have an almost protective format and are extremely unprofitable for home buyers. This happens due to two factors at once. The first factor is very high market interest rates. Let me remind you that now the average rate for market programs is about 21.5%. And the second factor is, of course, the cost per square meter. As a result, our investment motive simply goes away. It turns out that from the point of view of financial mathematics, it is now more profitable to rent an apartment on the horizon for up to a year, and place the initial payment in investments. Abstaining from mortgages for at least 12 months in this case is directly shown.”
It seems that those who need housing in million-plus cities have already made their choice in favor of renting. For example, in Moscow, the demand for it is high, there is not enough supply. Accordingly, prices are rising, says Maria Zhukova, Managing Director of Miel-Rent:
Maria Zhukova, Managing Director of Miel-Rent, “They are growing furiously. First of all, it’s the season now, and it’s active, although September has slowed down a bit. But at the same time, there are no more apartments on the market, the owners are not actively renting. And the demand is high enough: the remains of students, a lot of requests from residents of the Kursk and Belgorod regions. That is, they have also increased the flow of tenants, and our owners always respond to demand. And people are filming, if they hadn’t filmed and said — no, let’s get cheaper — it’s one thing, but there is no offer. We have to take what we have.”
If you rent an apartment, then you can and even need to deposit money for the initial mortgage payment. There are, of course, more risky options, but a deposit in a bank is reliable. And this is at least 15% per annum. Such rates are now not uncommon even for savings accounts, not to mention term deposits. If you place, say, 5 million rubles in a bank, you will gain 750 thousand percent in a year. Or 62.5 thousand rubles per month. There’s enough to rent a one-bedroom apartment. And maybe even a little more will remain.
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