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Moscow Apartments News Archive

According to Moscow realtors, current supply of elite apartments for rent in the city accounts for 11,000-12,000 units. About 1,300-1,500 premium class apartments enter Moscow's market annually. "The demand for premium class apartments still exceeds the supply of the quality units. This gap is about 30%," says Aleksandra Kosareva, head of the Soho Realty rent department. "The reason for such a situation is a limited number of elite properties. I don't think that in the nearest future the situation can change dramatically."

However, some agents insist that the supply is enough to satisfy current demand. ►Continue reading

The Moscow News, Wednesday, January 17, 2007

The first quarter of 2006 saw a price hike of 15% to 20% per sq. m of living floor space in a Moscow apartment. The price rise for March, according to analysis center IRN.ru, was 7.5%. The hike for April was an all-time record high of 10% - a jump the Moscow real estate market had never seen throughout its 15-year history.

What is causing the snowballing of the cost of living accommodation in Moscow?

Some of the main causes of soaring prices are objective ones: Compared with last year, supply on the primary market has dropped by nearly 30% due to greater solvent demand and to a shortage of suitable construction sites (especially in downtown Moscow). Furthermore, developers face tougher government regulations: The law on shared construction projects adopted a year ago has drastically slashed the market for newly built quarters. ►Continue reading

The Moscow News, 2006-17-14

High demand, low supply and low vacancy rates - the most popular characteristics for Moscow's real estate market - seem to be proper for the serviced apartments sector as well. The biggest demand for short-term rentals is in the Russian capital's center. According to the experts estimates, there are about 200 serviced apartments in this part of the city. Needless to say, their occupancy rates average 95% year-round.

Realtors recommend placing an order for a serviced apartment at least a month in advance due to their "increasing popularity." An Internet search can help the traveler find an apartment for $35 per night - accommodations for backpackers on the outskirts of the city with poor quality of renovation and furniture. ►Continue reading

The Moscow News, 2006-45

London, July 2006. Travel experts at Opodo have identified the 'Top 10' up and coming travel destinations, as well as some interesting trend-based insights for travel in 2007.

Neil Mott, UK Country Manager at Opodo commented, "2006 has seen a strong rise in travel to Eastern European countries since whilst being accessible, they still hold a certain 'mystique' for the traveller. Bookings to Bulgaria have risen by 40% in the last 6 months and with the prospect of joining the EU in January '07, we expect to see a significant increase in the number of tourists heading there to take advantage of the euro. Russia will also continue to grow in popularity for those looking for their next Eastern European adventure, an insight which is apparent from the 24% increase in bookings so far this year." ►Continue reading

www.opodo.co.uk, July 2006

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