The average price of long-term apartment rental in Sevastopol in July was 26,000 rubles

CrimeaPRESS reports:

Interest in long-term rentals among the cities surveyed grew the most in Barnaul, Stavropol and Kirov. The most affordable rental rates as of July 2024 were recorded in Kirov, Bryansk, Yaroslavl and Ulyanovsk.

Avito Real Estate summed up the results of July 2024 in the long-term housing rental market, comparing them with the figures for the previous month. On average in Russia, demand in the segment increased by 11% over the month. Platform visitors began to show more interest in renting properties with four or more rooms (+18% over the month), three-room (+13%), one-room (+11%) and two-room apartments, as well as studios (+10% in both segments).

Demand for long-term apartment rentals increased in 32 of the 34 cities surveyed by Avito Real Estate compared to June 2024. The most noticeable dynamics were in Barnaul (+40%), Stavropol (+39%), Kirov (+29%), Tomsk (+25%) and Saratov (+24%). In Sevastopol, demand decreased slightly during this period — by 5%. Information on other cities is presented in Table 1.

The supply in the long-term rental segment on the platform in Russia on average decreased by 3% per month — against the backdrop of growing demand, apartments are rented out faster, which is why the total number of properties available for rent is decreasing. At the same time, in annual terms, the supply volume increased by 1.4%. This is mainly due to the fact that in the context of high market mortgage rates, it has become more difficult to sell secondary housing, so some owners are temporarily switching to the long-term rental market. Due to this, we are seeing an additional increase in supply on the platform at the level of 2-3% every month.

The cost of long-term apartment rental has not changed compared to June 2024 — on average, it is 30 thousand rubles per month across the country. Of all the cities in the study, a price decrease was recorded in Omsk and Sevastopol (-4% in each). In July, it was cheapest to rent an apartment in Kirov (on average 17 thousand rubles per month), Bryansk (18 thousand rubles), Yaroslavl and Ulyanovsk (20 thousand rubles each). The highest average prices are in Moscow (80 thousand rubles per month) and St. Petersburg (40 thousand rubles). The average cost of renting an apartment in Sevastopol is 26,000 rubles. Information on other cities is presented in Table 1.

In the first month after the end of the mass preferential mortgage program, some potential buyers of apartments in new buildings that do not fall under any of the preferential programs opted for renting housing. However, this did not have a significant impact on the level of demand — at the end of July, the indicator is comparable to last year’s values. This trend is explained by two reasons. Firstly, tenants who switched from the new building segment make up an insignificant share of all people aiming to rent housing. Secondly, the growth in demand is restrained by an increase in rental rates. As a result, we note that the current activity in the long-term rental market is largely dictated by seasonality, — commented Konstantin Kamenev, head of the long-term rental category at Avito Real Estate.

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