Over the past decade, the primary real estate market in Russia has updated several sales records, including at the expense of investors, who, according to developers, acquire up to 30% of apartments at the start of sales.

Investors who bought apartments to save money will move from the category of sellers to the category of landlords in the medium term: they will not be able to obtain the desired profitability from resale. This will lead to increased competition in the rental market.

The newer the house, the more apartments are rented in it.

According to Tsian's calculations, today in the largest cities of the Russian Federation (with a population of over 1 million people), more than 4% of all apartments are rented in multi-storey buildings built later than 1950.

In the buildings commissioned since 2010 and later, 7.4% of apartments are rented out. The maximum indicators are in St. Petersburg, Moscow, Novosibirsk.

For houses built from 1992 to 2009, about 4.8% of the total housing stock is rented out. The highest rate is in Novosibirsk.

In Soviet houses of standard construction (from 1950 to 1991), the minimum share of housing rented (3.3% of the total number) was noted.

Investment transactions in the real estate market for resale or further lease have been actively concluded in the last decade, which explains the maximum share of housing available to tenants today in new buildings.

The table below shows the indicators of how many apartments (of all those built) are present on the long-term rental market. The leaders are Novosibirsk (6.3%), Krasnoyarsk (5.5%), Moscow, Rostov-on-Don (5.3% each), and St. Petersburg (5.1%).

In their calculations, Cyan's analysts used data on the average exposure period of an apartment and the standard duration of residence of one tenant in an apartment (according to a survey of users of the "Rent / Remove" service, now it is 12 months). The total number of new advertisements for renting housing for 2020 was compared with the total number of apartments in the analyzed houses.

Distribution of apartments on the rental market depending on the year of construction

According to Cyan Analytical Center

Further calculations were carried out for cities with a population of more than 1 million inhabitants using one-room apartments as the most popular format for renting.

It is getting harder and harder to find the "Babushkin" option

Potential tenants often complain that they have to choose mainly from apartments with "grandmother's" renovation. This expression stuck in the market not only because of the specific decoration and furnishings that have survived since the times of the USSR, but also because such housing is often rented by elderly women - the same grandmothers or their grandchildren who inherited such housing. But now there are fewer and fewer grounds for such complaints.

According to Tsian's calculations, on average in all cities with a population of over one million, 29% of the one-room apartments available for rent today are exhibited in houses built since 2010. Approximately 22% - in buildings introduced from 1992 to 2009, when the concept of "European-style renovation" appeared.


Another 39% are typical Soviet housing, built from 1950 to 1991, including both Khrushchev buildings and typical panel and block houses above five floors.

The remaining 10% of apartments are located in buildings built in the first half of the last century or earlier.

It is easiest to rent an apartment in a new building in Krasnodar (66% of one-room apartments are exhibited in buildings built since 2010), Voronezh (44%) and Krasnoyarsk (42%). Moscow was in last place with 17% - this is the share of "odnushki" rented in new houses.
Typical building is the leader in terms of supply volume. Despite the activity of investors in the capital in recent years, the volume of supply from them for rent is much lower than from rentiers who rent out housing in typical buildings of the USSR.

Capital tenants are indeed much more likely to meet “grandmother's” options than residents of other regions. The lack of "odnushki" in Moscow is also associated with the larger average area of ​​apartments sold in new buildings (57 sq. M. In the capital against 45 sq. M. In the average city with a population of one million).

Distribution of the volume of supply of one-room apartments for rent by year of construction of the house

According to Cyan Analytical Center

Almost 40% of new apartments for rent are a legacy of the 2014 currency crisis

Real estate has always been and still remains a reliable currency of choice for Russians in the face of instability. This was especially pronounced in 2014, when the ruble depreciated twice in six months, which caused a record demand for the purchase of real estate at that time. Many invested in square meters in order to save money, and by the spring of 2015, when the ruble exchange rate dropped from 70 rubles in February to 50 rubles in May, some investors decided to sell their apartments.

But many faced low demand due to the increased mortgage prices and the lack of preferential mortgages, which have been available on the primary market since March 2015. Therefore, the market of the largest cities 

including and thus replenished with new rentiers who bought new buildings in the crisis year of 2014.

According to Qian, 38% of apartments for rent in new buildings (built in 2010+) are exhibited in buildings commissioned in 2014-2016. That is, at the time of the devaluation of the ruble, these were new buildings, acquired in the wake of rush demand.

In some cities, the share of such apartments is higher. In Samara, Volgograd and Voronezh, about half of the new apartments (2010+) available for rent today were leased in 2014–2016, that is, at the time of the depreciation of the ruble, it was housing under construction.

The minimum share of the supply of rent in houses built in 2014–2016 is in Moscow (25% of the total number of new houses) and St. Petersburg (33%). Cyan attributes this to high investment activity after the currency crisis, as well as to the release of new volumes due to the implementation of the industrial zone renovation program.

For example, in Moscow at the beginning of 2015, about 21 thousand apartments and apartments were available for sale on the primary market, and after only two years - at the beginning of 2017, their number increased to 54 thousand, which expanded the choice of potential investors. rentier.
In the regions, the main investment surge was observed in 2014 - it resulted in a significant number of apartments for rent.

Additional payment for comfort - new houses are more expensive by a quarter

Renters who plan to live in a new home built over the past decade will have to budget more. You have to pay extra for comfort, and a lot.

According to Tsian's calculations, on average, in all cities with a population of over one million, renting a one-room apartment in a new house (built in 2010+) will cost 18.8 thousand rubles. This is 9.3% higher than in houses commissioned in 1992-2009 (17.2 thousand rubles), and 26% higher compared to "odnushki" for rent in typical Soviet houses of the second half of the last century (14.9 thousand rubles). If we single out Khrushchevs separately, then the difference in the rate with new apartments will be even greater - 31%. It will be possible to remove a "odnushka" in Khrushchev for an average of 14.4 thousand rubles.

The largest markup to the rental rate for new housing is made by residents of Moscow, Kazan, Voronezh - in all cities the rental rate in a typical Soviet house is significantly lower than in a new one (built in 2010+). The minimum price difference is in Chelyabinsk (11%).

Not in all major cities the average rental rate is higher in new buildings: in Samara and Chelyabinsk, apartments built in 1992-2009 are leading in price. But the general trend is as follows: to move to the next level of comfort, you have to pay about 10-15% to the rental rate.

The rental rate for a one-room apartment and the "margin" for the year of construction

According to Cyan Analytical Center

Finding a tenant is easier if the apartment is in an old building

According to Qian's calculations, the newer the house, the longer it takes to find a tenant, which is associated with a higher rental rate. For new apartments (2010+), this is 42 days (this is how much on average elapses from creating an advertisement to its withdrawal). For housing built from 1992 to 2009 - 43 days. average The search term for a tenant of an apartment in Soviet-built houses is 40 days. Thus, it will be possible to find a tenant for an apartment in a Soviet-built house a little faster than in a new house (on average, two days).

Most of the time is spent looking for a tenant in Volgograd, Krasnodar and Rostov-on-Don - almost two months. The easiest way to find a tenant is in Novosibirsk, St. Petersburg and Moscow - the search will take about a month.

Exposition period of apartments for rent, days

According to Cyan Analytical Center

Renting out an apartment today is a good alternative to a bank deposit, comments Alexey Popov, head of the Analytical Center Cyan. But most investors still prefer quick money from the resale of an apartment, rather than a stable passive income on a monthly basis. The largest share of owner-rentiers is located in the centers of attraction of the labor force (Moscow, St. Petersburg, Novosibirsk) with a minimum tenant search period and a large selection of new buildings due to industrial construction.

The expert notes that in the medium term, competition will intensify due to investors who will move from sellers to the category of lessors due to the inability to obtain the desired profitability from resale.