St. Petersburg is ahead of Moscow in the dynamics of rising rental prices – Kommersant

In St. Petersburg, the rate of growth in rental prices in 2023 exceeded the figures in Moscow, the Yandex Rent service reported. In some areas the increase exceeds 60%.

The average price for long-term studio rental in Moscow increased by 20%, to 60 thousand rubles, according to a study by Yandex Rentals (available from Kommersant). In St. Petersburg – by 30%, up to 30 thousand rubles. One-room apartments are rented in the capital for an average of 50 thousand (+11%), in St. Petersburg – for 33 thousand rubles. (+22%), two-room apartments – 75 thousand (+15.4;) and 55 thousand (+30%) respectively.

Analysts believe that the reason for the rise in price was the “dropout” of budget proposals. The remaining options on the market “form a high average rental price.” In Moscow, the volume of supply decreased by 40%, in St. Petersburg – almost twice.

In the capital, studios and one-room apartments have risen in price most noticeably in Vernadskogo Avenue (+44%), Donskoy (+43%), and Yuzhnoportovy (+40%) districts. Two-room and three-room apartments increased in price most significantly in Meshchansky (+69%), Zamoskvorechye (+62%) and Alekseevsky (+59%) districts. In St. Petersburg, studios and one-room apartments have risen in price the most in the Sosnovskoye districts (+46%), municipal district No. 54 (+37%), and Lakhta-Olgino (+35%). Two-room and three-room apartments increased in price the most in the areas of Grazhdanka (+67%), Aptekarsky Island (+64%) and Chkalovskoye (+61%).

About the reasons for the rise in rental prices – in the Kommersant article “Rent was supported by mortgages.”

Leonid Uvarchev