Housing rent in Ufa has become by 8% cheaper in 2009

Elvira Latypova

Housing rent in Ufa has become by 8% cheaper in 2009 and in December 2009 one could rent a flat in the capital of Bashkortostan at 11180 rubles per month on average.

Lowering of the rent rates is explained by the financial crisis and by the increase of the number of offers in the housing market. The fall of realty prices made the sales of housing, purchased during the previous years, unprofitable and many owners decided to grant their flats on a lease. It especially concerns the flats, bought within the period of the stable rise of realty prices: that time the investments to immovable property looked as the most profitable.

The rent started to cheapen only by the end of 2008, when the crisis began to affect the population’s earnings. Now those owners, who can’t sell their flats at higher prices, try to provide themselves with the “safety net” monthly incomes and this step doesn’t let the flats to become cheaper too much. Nonetheless due to low solvency of the population the cost of the rent was gradually coming down during the whole last year.

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