The key facts

  • Real return is calculated from the full entry cost: apartment price plus renovation, appliances, furniture and maintenance
  • High rental yield does not equal liquidity: selection criteria for renting and resale differ
  • A rental apartment is not a passive investment: preparing the property and working with tenants is required

What the expert said

Buying an apartment to rent out in 2026 can be profitable, but only if the investor calculates the full economics of the property rather than relying on the rental rate. This was told to Gazeta.Ru by Viktor Zubik, founder of the property management company Smarent. According to him, the apartment price must be supplemented with renovation, appliances, furniture, maintenance and possible vacancy periods — only after that can one speak of real returns.

Liquidity and competition

Zubik warned that high rental yield and liquidity are not the same thing: an apartment may rent out well but prove difficult to resell, so the selection criteria for renting and for resale differ. «For rentals I look at location, transport accessibility, layout and potential demand. But competition is especially important now: if there are many similar apartments in a residential complex, you will have to compete not only on rate but also on condition, furnishing and the quality of the unit,» he explained. A good project, the expert added, does not guarantee a good investment: the result depends on the specific unit and the purchase price.

Not a passive investment

A rental apartment, according to Zubik, is not a fully passive investment: after purchase it needs to be prepared, furnished, a tenant found, its condition monitored and current issues resolved. The peculiarity of the Russian market, he noted, is that for most investors the main task is not maximum rental income but growth in the asset's value: rent serves as a source of cash flow while the apartment appreciates. «In 2026 I would not chase the most beautiful yield figure. What matters more is a liquid property with clear rental demand, an adequate entry price and growth potential. What matters is not the return on paper, but how much you actually earn from rent and how much you will make when selling,» the expert concluded.

Context

Gazeta.Ru also recalled that Russians were previously explained the punishment for illegally renting out apartments — this aspect concerns those who rent out housing without proper registration.