Vacation in the country house: summer cottage rental unexpectedly fell in price

Yekaterina Maksimova

The coronavirus pandemic has become a golden time for those who rented out their country houses. Due to quarantine, the demand for houses in the village in 2020-2021 has grown significantly, and the owners of dachas (especially in the Moscow region and the Leningrad region) on the wave of excitement significantly increased the price tag: by 30-50-70% or more. Prices in the summer of 2022, as predicted in early spring, should have grown even more, but the summer season did not start at all according to plan: prices have been creeping down since April.

Somersault with prices

According to the Internet aggregator Restate.ru, in April the cost of renting dachas, cottages and country houses decreased by 11.42%. As of the beginning of May - another minus 8.18%. And if at the beginning of April the average price for rent was about 173 thousand rubles per month, then on the May holidays the bargaining began with 144 thousand rubles.

Yelena Nosulenko, a real estate expert at Aventin, confirms the statistics of the aggregator. “Rental prices have really come down at the moment. According to my estimates, by 10-15%”, - the expert noted.

Plenipotentiary Representative of the President of the Russian Guild of Realtors in the Central Federal District Yekaterina Vekshina notes that the new trend has affected the Moscow and Moscow region rental market the least. “In Moscow and the Moscow Region, targeted offers appear that are slightly cheaper than the market value, but they are associated with the relocation of the owners and the unwillingness to leave the property unattended,” said Yekaterina Vekshina. She also added that while the suburban market recorded and falling demand - within 10-15% of last year's level.

Country Sale

According to Elena Nosulenko, the trend has changed due to a noticeable increase in supply - by 10-20%. That is, at the start of the 2022 summer season, homeowners began to actively rent out their summer cottage square meters.

“The pool of landlords was replenished mainly by those who planned to sell their property. After February, it became risky to sell, where to invest money after the sale is a question. You can't even convert to currency. The owners argue simply: let the property just work for now”, - Yelena Nosulenko explained.

The realtors of several real estate agencies we interviewed note that the number of options offered has increased both in the economy segment and in the elite market, where the price range starts from 250 thousand rubles for renting a fashionable cottage for a month.

The most popular "product" in the Moscow and Leningrad regions is a well-maintained house with furniture, normal repairs and not far from transport interchanges. Tenants also pay attention to the availability of WI-FI, and that there are grocery stores within walking distance. Such an option in the Moscow and Leningrad regions today can be found for 140-150 thousand rubles per month. The lower price range in this segment is up to 70 thousand rubles.

"Grandma's shed" in SNT with amenities in the yard, taking into account current prices, will cost the tenant 30-40 thousand rubles.

According to Ekaterina Vekshina, a typical tenant is couples with children, young couples, middle-aged couples.

As a rule, no matter what segment we are talking about, Russians prefer to rent housing for all three summer months at once: from June to September.

It's time to dump

According to Yelena Nosulenko, an expert on real estate at Aventin, the market will revive in the coming days, and demand will traditionally peak at the end of May. “Firstly, over the years of the pandemic, Russians have become accustomed to such a service. Secondly, foreign holidays have become practically inaccessible. And you can't fly to Sochi for the whole summer. We do not predict a decline in demand this season”, - the expert suggested.

“The season started later this year. There are two reasons: a late cold spring and a special operation. Now people are more careful with their money. But the demand is still growing in all segments, from the elite to the economy with a toilet outside”, - commented Yekaterina Vekshina, Plenipotentiary Representative of the President of the Russian Guild of Realtors in the Central Federal District.

Realtors are not yet ready to predict what will happen next with prices and are advised to take advantage of the April-May price fall. In their opinion, now landlords are more accommodating and are still ready to discuss tangible discounts.