Yekaterinburg: Rental Prices Up 30% After World Cup

3 July 2018 (09:39)

UrBC, Yekaterinburg, July 3, 2018. The average offers for long-term rentals in Yekaterinburg grew 30% more expensive between May and June (the figures went from RUR 18,500 up to RUR 24,100 per apartment on average), the online estate service N1.RU reports.

Rental prices went up most noticeably in VIZ, Parkovy, and the centrally located bits, where the monthly rent rose by 30% on average. The rental market supply increased dramatically in VIZ, Avtovokzal, and the central locations. Also, the supply of the more expensive two-bedroom apartments rose by 7.5% all over the city.

The number of long-term rental options on offer through N1.RU’s database increased by 35% in the last two months, from 2,291 to 3,072 apartments/rooms. This summer was different from the last one in that a number of super-expensive options entered the market. For one, last year’s priciest apartment could get rented for RUR 200,000 a month; this year, the market’s most expensive offer comes for RUR 350,000 a month. This naturally contributed to the increase in the prices of centrally located apartments.

‘Landlords certainly tried to make the best of the World Cup visitors, profits wise. Even the long-term rentals got converted into short-term ones for the championship days, so both the supply and the prices are on the rise again now that the game-hosting fortnight is over. Besides, it is now the time of the year when students begin looking for rental homes, which boosts the prices as well,’ says head of N1.RU Oksana Sidletskaya.

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