|
Thursday, 17.02.2011
Moscow's elite rental prices, only Tokyo is more expensive
Moscow. Trying to find an appropriate apartment in Moscow one has to dig deep into one's pockets. A recent survey by a British recruitment company concludes that the Russian capital is the worlds number two in property prices.
|
|
ECA International states that a two room apartment in Moscow amounts to $3,500 ($2,600) a month. The Russian capital is only topped by Tokyo where a similar property costs $4,352.
|
Business class living has it's price
Third place goes to Hong Kong, where an appropriate accommodation amounts to $2,824, with a narrow lead over London in fourth place. However the quoted prices are for the upper price group, that companies are expected to pay for top managers living abroad.
|
According to the agency, elite rental prices in Moscow have risen by a whopping 17 percent in the last year. This is due to an influx of returning expats in management positions during 2010 after having left Russia during the economic downturn in 2009.
|
An appartment for $40,000 a month
The most expensive residential property in Moscow last year was a 300 square foot apartment in a small elite housing development in Ostozhenka where due to its exquisite interior design and décor the rental price was $40,000 a month.
|
Dear manager, shared accommodation as a piggy bank
Given the high property prices, estate agents noticed a new trend in the market, middle management apartments were now rented by young professionals, only to be shared with friends as a residential community.
|
A shared apartment in a prestigious location would then be no more expensive than a 1 room flat in a dire residential block in the suburbs.
|
|
