Rental prices in St. Petersburg surpass those in Moscow
In a recent study conducted by Yandex Rentals, it has been revealed that St. Petersburg has surpassed Moscow in terms of rental housing cost increases. The average rent for an apartment in St. Petersburg has risen by 8.5% to 51,000 rubles per month. This marks a significant increase compared to the national average, which stands at 35,000 rubles per month.
Interestingly, St. Petersburg's rental market has seen the most substantial growth among Russian cities with a population of over a million in the past month. The city's status as one of Russia’s largest and most economically significant cities may contribute to this demand pressure on housing.
Other cities, such as Samara and Perm, have also experienced rental price increases. Samara has seen a 6.7% rise, with the average rent now at 30,000 rubles, while Perm has recorded a 4.7% increase, with the average rent now at 31,000 rubles.
The study did not specify which cities experienced decreases in rental housing prices. Furthermore, it did not provide detailed data or analyses explaining why St. Petersburg's rental market has seen such a sharp increase compared to other cities.
However, some plausible explanations can be outlined. Economic factors such as limited new housing supply, increased demand for rental properties, or rising costs of living could drive up rental prices in St. Petersburg more than other cities. Additionally, ongoing population shifts within Russia, with some regions facing depopulation and smaller towns declining, while large urban centers like St. Petersburg likely see increased inward migration or sustained population stability, may heighten housing demand.
External events such as policy changes, investment influxes, or development projects could also temporarily spike rental costs. For a more precise explanation, specialized real estate market reports or local economic data from August 2025 would be required.
Roman Zhukov, the head of Yandex Rentals, led the study. However, it did not mention any factors influencing the increase in rental housing prices beyond the faster rental of more affordable apartments. Nor did it address any issues related to public transport fare increases, luggage loss on flights, or tourism in Kronstadt.
In Moscow, the increase in rental prices is 4.1%, with the average rent now at 89,000 rubles. Despite the increase, Moscow's rental prices remain significantly higher than those in St. Petersburg.
In conclusion, while the reasons for the sharp increase in St. Petersburg's rental costs remain unclear, the city's economic significance and ongoing population shifts appear to be contributing factors. For a comprehensive understanding, further research and data are needed.
Home-and-garden magazines might highlight the growth in St. Petersburg's lifestyle sector, reflecting the increasing interest in home decor and improvement as a result of the city's booming rental market. Additionally, the home-and-garden industry could benefit from this trend, as residents might be inclined to invest in their homes due to the increased costs of renting.
