For the first time in a year, there is a decline in the luxury real estate rental market

Yelena Kulikova, head of the rental department of the international real estate agency Savills in the Russian Federation, told RIA Novosti that the market has fallen by 5% since the beginning of the year. At present, the average budget of the proposal is 5.8 thousand rudders lower than the October one - 370 thousand rubles per object per month.

"The downturn in the premium real estate rental market is insignificant and is assessed by us as a positive factor needed by the market. Since the lifting of strict restrictive measures a year ago, we have seen very rapid growth in the luxury rental market, driven by both deferred demand and the excitement in the premium real estate market. This situation overheated the market, which could subsequently lead to a sharp and painful recession - when landlords have already switched to new rates and expectations, and tenants are not ready to support the market with their activity", - the expert explained.

Kulikova pointed out that a small reduction is timely, thanks to which tenants will be able to smoothly move into the reality of new rates.

About 40% of apartments rented since the beginning of the year are in the range of 50-100 square meters. However, larger apartments began to gain popularity - ranging from 100 to 150 square meters, and even up to 200 square meters. They account for 23% and 21% of the demand, respectively.

At the beginning of the month, there was a shortage of high-budget apartments of 80-100 square meters. These are two and three bedroom apartments with one and two bedrooms. The demand for them exceeded the supply by 8%. An oversupply was noted in the rent of studios and one-room apartments with a kitchen and living room - 13% and 2%.

It's worth reminding that the supply of other rented housing in Moscow has dropped. Over the past two years, the number of leased residential real estate in the capital has decreased by 5%. In early autumn, compared to last year's figures, the number of rental offers in the capital and the Moscow region decreased by 43 % and 45%, respectively.