The number of owners who rent housing in the Moscow region increased 1.5 times over the year

In August 2020, the number of owners in Moscow and the Moscow Region, who want to rent their housing, increased by one and a half times compared to the same period last year. This conclusion was reached by analysts of the Miel real estate company.

According to experts, the proposal in the real estate market of the metropolitan region is actively growing, but the demand is still behind. So, in the first half of the year in the market, they made 35% less housing rental deals than in early 2019. This is due to the fact that due to pandemia, many tenants left Moscow and Moscow Region and have not yet returned.

The imbalance of supply and demand has not yet been reflected on rental rates. Only a few real estate owners are now ready to reduce prices for tenants by about 10-15%. Something similar happened in the market during crises in 2008 and 2014, RBC writes.

The authors of the study note that the landlords are not yet ready to cross the psychological threshold of expectations. Many real estate owners are ready to temporarily refuse to transfer objects instead of reducing the cost of rent.

Recall that in mid -July, the deputy head of the Ministry of Construction of Russia Nikita Stasishin said that the launch of a preferential mortgage program at 6.5% made the purchase of an apartment more profitable compared to rental.

"The rate is 6.5%. This means that on average payment for the population is about 16 thousand rubles at the average cost of an apartment up to 3.5 million rubles. This has led to the fact that today the purchase of an apartment in a mortgage (taking into account a fairly short construction cycle and that for the most part developers are transferred to the construction of standard housing with a finish) more profitable than renting an apartment. But I say this about the market. Rent, ”Stasishin said then.