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Demand for rental housing in Crimea fell to 1%, reaching a minimum since 2014

Significant changes have taken place in the trends of rental housing in the summer in regions traditionally attractive for recreation. In particular, the demand for rental housing in Crimea has decreased to 1% as of the summer of 2023, while Sochi is showing a record increase in demand.

The share of Crimea in the total volume of hotel bookings and rental housing for the summer of 2023 fell to 1%. For comparison, in the summer season of 2021 this figure reached 19%, which allowed the region to take the position of the absolute leader in bookings. At the same time, it should be noted that the demand for rent in Crimea fell sharply already in 2022, amounting to only 3%. In 2020, this figure was at the level of 18%, and in 2019 - 17%.

On the other hand, rental demand in Sochi hit a five-year high, accounting for 15% of total bookings in Russia for the summer of 2023. In 2022, this figure was 13%, in 2021 - 9%, in 2020 - 10%, and in 2019 - 9%. Thus, Sochi has become the absolute leader among all Russian resorts for the summer of 2023.

Experts note that recreation in the Crimea has always been a key source of income for the peninsula, and the current situation can clearly lead to serious economic problems.

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