Experts say: It is much cheaper to rent an apartment in million city than to pay a mortgage.
In a number of large cities of the country today, for a monthly mortgage payment for a one-room apartment, you can rent a full-fledged two-bedroom apartment, and in some places a three-bedroom apartment. The mortgage payment in the secondary market is on average 2.3 times higher than the rent. This is the conclusion reached by CIAN analysts. The Rossiyskaya Gazeta newspaper staff reporter in the regions also confirm the ingrained trend.
The largest gap between rent and mortgage payment is now noted in Kazan - 2.9 times, in St. Petersburg - 2.7 times and in Moscow - 2.5 times. Ufa and Samara have a difference of 2.4 times.
The reasons for such volte-face on the market, in general, are understandable. The Central Bank's key interest rate and, as a result, interest on banks' mortgage programs have been growing especially actively since last summer. Referring to The Rossiyskaya Gazeta representative of «CIAN.Analitika», over the past year, the monthly mortgage payment has increased by an average of 27 thousand rubles (or 77%) in million cities, and the rental rate increased by 6 thousand rubles (or 31%) over the same period. A year ago, the average gap between mortgages and rents was 67%. It means that It was possible to rent an apartment last spring 1.7 times cheaper than paying a housing loan. «The increase in bank interest rates has led to an increase in the gap between the cost of rent and the amount of mortgage payments, » notes Alla Shinkevich, CEO of the real estate agency in St. Petersburg. «Moreover, first of all, when buying secondary housing with a mortgage, which is not covered by preferential programs. In some cases, this gap now exceeds the level by 2-3.5 times and is especially noticeable in the economy class segment».
Alexey Bondarev, the head of one of the St. Petersburg real estate agencies, gave an example: with a mortgage loan for a secondary housing in the amount of 7 million rubles for 30 years, the monthly payment at the beginning of 2023 was 60 thousand rubles and for the same loan at the end of 2023, it was already necessary to pay 100 thousand. It is not surprising that the number of people who want to rent a house for a reasonable price is growing - monthly mortgage payments are becoming unaffordable for many people. According to experts, for a long time rent did not grow when supply exceeded demand. Now, as apartment prices have increased sharply, rental rates have followed them.
According to Irina Sokolova, head of the secondary real estate sales department of LLC «ТСН НЕДВИЖИМОСТЬ», the cost of renting apartments in the Moscow market has increased by 20-25% recently. However, given the high key rate, rent is still noticeably cheaper than the monthly mortgage payment on the secondary market, so many people prefer to rent a house. «Theoretically, in certain locations, price of rent can grow to the level of a mortgage payment. The psychological threshold here may be different depending on the area and the quality of the property», - says the expert.
According to Marat Gallyamov, director of the real estate agency «Этажи-Казань», an average mortgage loan is taken in Kazan in the secondary market in the amount of 5.5 million rubles, at current rates the payment reaches 70-80 thousand rubles per month. At the new homes market. they try to take out a loan for the maximum available amount of 6 million rubles. Accordingly, the mortgage payment becomes even larger.
«The demand for rental housing has really grown a lot, and customers do not want to live in Khrushchevki with outdated repairs. And they are ready to pay for it, - Anastasia Gizzatova, director of the real estate agency in Kazan «Счастливый дом”, is recognized, - As long as the interest rate is high, the demand for rent will grow».
According to experts, residents of nearby cities who are moving to the capital of Tatarstan are “pour oil on flames” in Kazan. This is a comfortable city both for living and for earning money. Plus, there is a huge amount of students here. if earlier it was possible to scrape together a small studio, now the only way out is renting. This greatly accelerates rental prices. Thus, according to calculations by «Avito Real Estate», the volume of supply of apartments for long-term rent in Kazan decreased by 42.4% over the year, and demand increased by 12.3% during this time. As a result, the average hiring rate for the year increased by 20% - from 25 to 30 thousand rubles. Given the situation, developers raised prices for housing under construction, while the secondary market froze in anticipation of a reduction in the bank rate.
in Ufa, due to rising mortgage rates, the demand of buyers has shifted to new buildings where housing can be purchased under preferential programs, says the head of the Ufa real estate agency Leila Garipova.
«Today, most people prefer to buy housing under construction, where there is a family mortgage or a mortgage with state support», - notes the expert.
The monthly payment for a mortgage of 7 million rubles for 30 years at the beginning of 2023 was 60 thousand rubles, today it is 100 thousand rubles.
Today, in Ufa, the payment for renting an apartment is on average twice as cheap as monthly mortgage payments, those who planned to buy a house rarely part with plans. Therefore, the rent in Ufa, unlike in other cities, remains at the level of last year.
The rent of a one-bedroom apartment varies today from 15 to 20 thousand rubles, depending on the area. A two-room apartment can be rented for an average of 21-25 thousand rubles, a three-room apartment for 30 thousand rubles. And this is all at the level of 2023. As for the average monthly mortgage payment, an average of 35-40 thousand rubles will have to be paid for a one-bedroom apartment.
According to experts, in the last decade Ufa residents have been actively investing in real estate, considering it a promising investment, so there are a lot of rental housing in the city market now, even competition among landlords has arisen.
Meanwhile, predicting how the situation in the market of large cities may develop in the future, analysts agree that at least in the coming months there are no prerequisites for reducing the gap between mortgage payments and rent. With this ratio of payments, the potential for an even greater increase in rental rates will remain reported The Rossiyskaya Gazeta expert «CIAN. Analitika» Elena Lapshina.
As Anatoly Pysin, general director of the real estate agency «ЦДН», notes, if compare the conditions for preferential mortgages for new buildings and rentals, then the situation is different. A new building is an object that you cannot immediately enter and live in. You will have to wait for a new apartment for several months at best, or even years. If a person does not have his own home, it is not entirely correct to compare the rate on a preferential mortgage with a rental one, because in this case he will have to pay for both at the same time. On the other hand, recently new residential complexes have begun to appear on the market ready for rent, an apartment in which can be purchased under preferential programs, and immediately move in. But so far, such proposals are an exception to the rule.
There has never been a direct correlation between the amount of the mortgage payment and the rental rate for residential real estate, the expert notes. «Rent is a separate segment. Apartment owners are not interested in the situation on the mortgage market, and do not use the amount of loan payment as a criterion for determining the cost of renting their property», -says Pysin. In addition, he notes that indirectly the rise in mortgage prices has affected the rental market. Rates on secondary housing have become almost prohibitive for many today, so people began to take out loans noticeably less, and those who do not have their own real estate entered the rental market, increasing demand and stimulating price growth. The rental market has gone through a reset cycle in the last three to four years - from a severe drop to recovery and growth. The rise in rental prices is due to the general increase in the cost of residential real estate, which in Moscow, for example, has risen in price by 20-30% over the past 2.5-3 years, the expert notes.
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