There has been a correction in the housing rental market

09:00, 17.06.2025

The average rental rate in Kazan has fallen by almost 10% since the beginning of the year

There has been a correction in the housing rental market — Photo: Реальное время

The median long-term rental rate in the capital of Tatarstan was 45,000 rubles. Since the beginning of the year, the rental price has decreased by almost 9.7%, analysts calculated. However, realtors recommend not to rely on the statistics of aggregators, where there are a lot of “fake” advertisements. Last year, against the backdrop of a record increase in the key rate and the unavailability of mortgages, the long-term rental market “took off.” This year, prices will stabilize, but you should definitely not expect them to fall, experts warn: in the entire history of this market, rental prices in the capital of Tatarstan have never fallen, especially in top locations.

Apartment rentals in Russia are getting cheaper

The median long-term rental rate for all types of rooms in cities with a population of over one million in May 2025 was 34,000 rubles, Yandex.Rent reports. Over the month, it has decreased slightly — by 0.6% compared to April. Since the beginning of 2025, all cities with a population of over one million have shown a decrease in the cost of rental housing — by 8% in the first five months of the year. This is due to the growth in supply and the entry of long-term rental apartments from the mass segment into the market, including unsold secondary real estate.

In Kazan, the median rate today is at the level of 45 thousand rubles (0% per month; -9.7% since the beginning of the year), and at the beginning of the year it was 50,000. At the same time, studios in the city are rented at a cost of 17 to 85,000 rubles. The median rate for one-room apartments in the capital of Tatarstan is 38,000 rubles, two-room apartments — 50,000 rubles, three-room apartments — 75,000 rubles

The supply of rental housing in cities with a population of over a million during May 2025 decreased by an average of 2.9% across all 16 megacities. Since the beginning of the year, the market has seen an increase in exposure by 25.2%.

According to the service, among cities with a population of over one million, during May 2025, the median long-term rental rate decreased the most in Voronezh (-5.1%; up to 23,000 rubles), Nizhny Novgorod (-5%; up to 33,000 rubles), Yekaterinburg (-3.3%; up to 34,000 rubles), Krasnoyarsk (-2.2%; up to 25,000 rubles) and Krasnodar (-1.9%; up to 28,000 rubles). During the month, the median cost increased in St. Petersburg (+3.6%; up to 41,000 rubles) and Moscow (+0.7%; up to 85,000 rubles). In other megacities, in May 2025, the rental cost stagnated or changed within 1%.

“A slight decrease in prices at the beginning of spring is due to the approaching holiday season. During this period, the market is less active. At the same time, some owners of mass-market housing in the summer may reduce the rental price in order to find tenants faster. May, June and the first half of July can be called some of the most comfortable months for searching for a rental apartment,” notes Roman Zhukov, head of Yandex. Rent service.

The situation in Kazan is ambiguous

Rental rates for housing in Russian megacities are decreasing, confirms the company Etazhi. However, according to their data, the situation has not affected Kazan. The capital of Tatarstan has become the only large city where the rental prices for both one-room and two-room apartments are simultaneously increasing the most.

Since the beginning of the year, average rental rates for one-room apartments have increased only in Kazan (+1.4%) and Ufa (+0.4). In other megacities, prices have decreased. The strongest decrease occurred in Chelyabinsk (-3.6%), Volgograd (-3.4%), Yekaterinburg (-3.2%), St. Petersburg (-3.1%) and Moscow (-2.4%).

The situation is similar with two-room apartments. In this case, in Kazan, rent increased by 1.6%. The indicator is higher only in Krasnodar — +2.6%. In other megacities, they decreased: in Yekaterinburg (-2.8%), Moscow (-1.6%), Krasnoyarsk (-1.5%), Voronezh (-1.3%), St. Petersburg (-1.2%), Perm and Volgograd (-0.8% each), Ufa (-0.5%), Chelyabinsk (-0.2%).

“The dynamics of supply growth began to significantly exceed demand, including the increase in the terms of sale of secondary housing, due to which some owners began to rent out their apartments in parallel with the search for buyers. Now the volume of supply on the rental market is 40-60% higher than a year earlier,” explained the situation in the regions, Director of the company's rental department Olga Pavlinova.

Diana Karimova, head of the Rental Department at Etazhi-Kazan, confirmed to Realnoe Vremya that the downward trend will continue in the first and second quarters of 2025.

“We are talking about properties that were not sold, properties that were put up for rent above market last year, as well as investment lots purchased last year during the boom in the housing market,” she explains. “This year will be significantly different from the previous one. Competition among properties has increased, on average, the price is decreasing by 10-15% compared to last year.”

In addition, there is a serious problem on the market — fake ads that agencies are massively filling aggregators with. Clients do not go to real sites falling for “traps.” As a result, many real and liquid objects from both owners and agencies remain unnoticed by potential tenants, adds Karimova.

Prices for long-term apartment rentals in Kazan are

Vice President of the Guild of Realtors of the Republic of Tatarstan Andrey Savelyev does not recommend believing the statistics of aggregators: about 70-80% of ads are fake, designed to find clients. “If you go to any aggregator now, make 10 calls, nine of them will definitely be fake,” the expert says. In fact, the situation on the rental market in Kazan is now “more or less stable.”

“Despite the fact that the demand for rent is quite high, which is due to the unavailability of mortgages, the number of offers is also large. This is due to the huge number of investment transactions at the turn of 2021-2023, when apartment prices were not so high, and mortgages were preferential and affordable,” Savelyev explains. “Back then, we had sales records, and now all these apartments have been completed, renovated, and, naturally, they have all entered the rental market.”

According to Savelyev, rental prices in Kazan have been stable for almost six months — neither rising nor falling. “In the entire history of the Kazan rental market, prices have never fallen, and you shouldn’t count on it,” he notes. According to the publication’s source, demand will continue to be as high as it is now.

The situation with rental prices is ambiguous, because in long-term rentals in Kazan, if we are not talking about top locations, the cost has actually decreased, says Anastasia Gizatova, head of the Happy Home company. “Prices have decreased,” she confirms. “But this does not apply to popular locations, which are located in the city centre and in Novo-Savinovsky District of Kazan.”

“Demand for rentals is currently balanced by supply. Someone can't buy because of an expensive mortgage, but others, on the contrary, can't sell. And those who can't buy, rent from those who can't sell,” she described the current situation on the market. “These two factors cancel each other out.”

There was an adjustment after the rapid growth of 2024

In 2024, we observed a rapid increase in rental rates, which peaked in the third quarter, says Guzel Shakhimardanova, head of the sales department of the Megalit real estate agency.

“Since January 2025, there has been a cooling in demand, which we observed until the end of February. This led to a very slight rollback in prices, which have now generally returned to their previous level,” explains the interlocutor of the newspaper. “Probably, there is an annual seasonality here, because the demand for housing is distributed unevenly throughout the year. The peak of demand from year to year is August-September. The reason is students preparing for the start of the school year.”

“January is traditionally the least active month in this market segment, the reason is simple, the population spends a lot in December-January, and there are a lot of days off,” she notes.

“In recent years, this demand curve has also been adjusted by short-term rent. Many owners rent out their housing on a daily basis during the tourist season in order to earn more income, and in the off-season they rent it out for 6-7 months on a long-term basis. Thus, at the end of April, many people are looking for new housing to rent because they are asking to vacate the apartment they lived in before. And vice versa, in the fall, a new pool of apartments enters the long-term rental market, which were rented out on a daily basis for six months,” says Shakhimardanova.

“This market segment is not experiencing any obvious problems. Prices have stabilized at approximately the same level, and they are slightly affected by seasonality,” she summarized.