Intermark report: supply and demand for housing in Moscow rising
Analysis of the Moscow housing market in first half of 2017 by Intermark has shown supply and demand on the rise. The average tenants budget has also increased significantly since 2016.
Housing supply in Moscow
Over the past three years, the volume of high-budget apartments for rent in Moscow has increased by approximately a quarter (26 per cent). Over the past year, the largest increase in supply has been observed in three districts: Zamoskvorechye (+20 per cent), Leningradsky Prospekt (+17 per cent) and Frunzenskaya (+10 per cent).A noticeable decrease in availability of high-budget apartments from June 2016 was found in Kutuzovsky Prospekt (-20 per cent) and Tsvetnoy Boulevard (-18 per cent).The top three districts in terms of supply are Arbat-Kropotkinskaya area, with 20 per cent of market share, Tverskaya – Kremlin and Zamoskvorechye areas, with 15 per cent and 10 per cent of all lots, respectively.Thus, in June to early July 2017, we saw the maximum volume of high-budget apartments for rent in Moscow for the past year. The last time a comparable volume of supply was registered was in July of last year.At the present moment, the most expensive apartments for rent are offered in the following districts: Arbat-Kropotkinskaya ($6,580 per property per month), Krasnopresnenskaya and Patriarshiye Ponds – $6,400 and $5,890 per property per month, respectively.Two and three bedroom apartments are the most common options on the high-budget rental market in Moscow.The volume of supply of such objects is more than half of all exhibited lots (57 per cent), distributed in almost equal proportion – 33 per cent and 24 per cent, respectively. At the same time, the share of studios for rent is minimal, at only 5 per cent of the total supply.Housing demand in Moscow
In June 2017, demand from potential tenants was 8 per cent higher compared to the same period two years earlier.The volume of demand from tenants has increased by 15 per cent from the end of 2016 to the present (when comparing the period from November to December 2016 and May to June 2017).Leningradsky Prospect is traditionally the most popular district in the high-budget rental market in Moscow. Since the beginning of the year, apartments in this area were of interest to almost 16 per cent of all potential tenants.Related stories:
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The second most popular location for rent is Arbat-Kropotkinskaya, at 10 per cent of all requests.Compared to the same period last year, the average tenant budget has increased – $4,716 against $3,650 in 2016. More than a quarter (28 per cent) of all tenants is interested in renting an apartment at around $2,000-$4,000 per month.As of June 2017 apartments with one and two bedrooms have been the most popular among tenants since the beginning of the year.This news alert was prepared by Intermark Relocation Services the immigration and relocations service provider. For the full report visit the Intermark website. For related news and features, visit our Residential-Property section.Relocate’s new Global Mobility Toolkit provides free information, practical advice and support for HR, global mobility managers and global teams operating overseas.Access hundreds of global services and suppliers in our Online Directory
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