It has become more expensive to rent an apartment in St. Petersburg

In the ranking of cities with the highest rental prices in 2023, St. Petersburg took first place. It is ahead of even Moscow, according to a study by Yandex Rental analysts, excerpts cited by the Izvestia newspaper.

Experts studied the dynamics of prices for rental housing in Moscow and St. Petersburg for 2023 and recorded changes in the markets of both megacities.

Thus, the average price of long-term studio rental in Moscow increased by 20%, to 60 thousand rubles, and in St. Petersburg – by 30%: apartments began to be rented for an average of 30 thousand rubles. At the same time, since the beginning of the year in Moscow, the price of one-room apartments has increased by 11% – up to 50 thousand rubles, and in the city on the Neva – by 22% (up to 33 thousand rubles). For a two-room apartment in Moscow you will have to pay 15.4% more – approximately 75 thousand rubles, and in St. Petersburg this increase was 30% (the cost increased to 55 thousand rubles).

In general, both in the capital and in St. Petersburg, the cost of monthly payments has increased by an average of 20–30%. At the same time, in St. Petersburg the volume of supply of rental housing decreased by almost half, and in Moscow by 40%. At the same time, the average rental price of studios and one-room apartments in Moscow increased most noticeably on Vernadsky Avenue – by 44%, in the Donskoy district – by 43%, and Yuzhnoportovy – by 40%. In St. Petersburg, the average rental price of the same apartments increased in the Sosnovskoye districts – by 46%, Municipal District No. 54 – by 37%, Lakhta-Olgino – by 35%.

The main reason for such an increase in average prices, according to analysts, is the “washing out” of budget offers. The high average price is driven by the remaining options on the market.