During the 1st half of 2011 the average elite rental market supply budget was $ 7090, which is 12% higher than figures recorded in 2010 and 10% higher than pre-crisis prices. The average rental rate increased by 7% and amounted to $ 651 per sq.m per year.
During May 2011 supply volumes returned to March levels. However, it is too early to speak about an increrasing trend in the
supply volume. Before summer the market traditionally shows growth in the number of properties for seasonal rent offered to
families with children as the school year comes to an end.
Potential tenant activity on the high-budget rental property market remains at a high level, which is typical for this time of the year. The share of Russian clients willing to rent an elite apartment is growing – in April they totalled 35% of all inquiries.
