The delivery of housing in Moscow has almost doubled compared to the previous year, said the head of the Yandex Rental service. Roman Zhukov in an interview for Lenta.ru.

According to the specialist, by the beginning of 2024, apartments in Moscow are rented on average within 12 days after posting an ad on the service, which is 42 percent faster than in the same period last year. The fastest search for tenants is observed among owners of studios and one-room apartments, where the time from publication to occupancy is on average nine days, which is 44 and 48 percent faster, respectively. For two-room apartments this period is 14 days, and for three-room apartments – 16 days, which is also significantly less time spent on rent compared to the previous year.

The South-Western district of Moscow turned out to be the most efficient in renting out apartments, where a tenant is found on average in six days. Zhukov explains the demand for this area due to its high transport accessibility and developed infrastructure. While in the central and northwestern areas of the capital, finding a tenant takes twice as long due to higher rates and a large number of offers in new business class buildings.

The expert also notes that the demand for rental housing in Moscow began to grow in early January, exceeding the indicators of the second half of autumn. Zhukov cites high mortgage rates, which force many citizens to postpone the purchase of real estate, as the main reason for the increase in interest in rental housing.

Earlier in March, it became known that long-term apartment rentals in major Russian cities have risen in price by eight percent since August 2023.