The interest in suburban real estate continues to grow. Due to the coronavirus, more and more people are trying to leave the city. In April, the demand for rental of luxury cottages increased by 60-80% compared to March. The volume of supply in January-April decreased by 35%, while prices for expensive suburban real estate increased by a third since the end of 2019. The buyers' interest in country houses led to the fact that brokers in the real estate market changed their development strategies and instead of apartments began to offer cottages to clients.
Against the backdrop of the coronavirus pandemic, Muscovites' interest in elite suburban real estate continues to grow, analysts calculated. According to Oxe Capital, in April the number of requests for rent of high-budget country houses increased by 82.3% compared to March. Tenants began to show interest in dachas unusual for the season a month ago, but after President Vladimir Putin announced a non-working April on March 25, "a real excitement began in the segment of short-term rentals," analysts say.
However, the tenants had to adjust their requests and negotiate a longer contract term. At first, clients tried to rent cottages for two months or less, but there is practically no such offer in the elite segment, Oxe Capital adds.
According to Oxe Capital, on average, high-budget country houses are offered for periods of six months or more.
Dacha instead of the sea
The growing interest in renting expensive cottages is also confirmed by Knight Frank. Already in the first quarter, the number of requests was twice as high as in January-March 2019, says Oleg Mikhailik, director of the suburban real estate department at Knight Frank. A similar trend has affected the sale of suburban real estate: Oxe Capital recorded 62.4% more requests than in March. Knight Frank, however, adds that the deals themselves are not being closed yet, forming a pending demand.
The revival in the rental market led to the fact that the volume of supply of high-budget cottages in the Moscow region in January-April decreased by 35%, according to Knight Frank. According to consultants, the average rental rate in this segment was RUB 1.6 million. per month, which is 30% more than at the end of 2019. The rise in value in Knight Frank is associated with the fall of the ruble: about half of elite houses are valued in foreign currency.
The desire of buyers to move out of town during the pandemic helped not only the owners of cottages, but also brokers in the real estate market. The founder of the Apple Real Estate agency Danila Savchenko told Kommersant that the coronavirus influenced the change in the company's strategy. In March, Apple Real Estate, which specializes in the rental of premium apartments, faced stagnation: about a third of the company's demand was previously provided by expatriate tenants who chose to return home.
As a result, the agency began to deal with country houses, and this segment provided up to 70% of the company's revenue in April. Found cottages were quickly rented.
“In the current circumstances, there are no long views and“ I have to consult my wife ”: people booked cottages from photographs and transferred money the same day,” Mr. Savchenko wonders.
According to him, the most popular directions for renting houses are Rublevskoe, Novorizhskoe and Minskoe highways. In addition, houses near the water are in demand, for example, in the area of the Pirogov reservoir. The average area of rented houses was 300-400 sq. m, adds Danila Savchenko.