Quote from Ivanovich:
I do not live in Moscow anymore. Last time I lived there was 3 years ago.
I don't expect the housing/apartment market to crash. Not unless there's a country-wide financial meltdown. Think of the dynamics...
The only real place in Russia to get a job - a job worth anything - is Moscow. St. Pete has a few companies, and maybe Ekaterinbug, but they do not compare to Moscow. You cannot find any real jobs in the rest of the regions, or in cities like Novosibirsk or Chubaksary...lol!
So given that everyone has to come to Moscow for work, and there's only so many places to live (no real high rise places to live like in NY), houses there will continue to rise.
The only thing that can stop it is a collapse in the oil industy, since all of Russia is dependant on the oil price. This doesn't look likely. But if it were to occur, then you'd see another crash like the late 90s.
If that happened, I would buy up any real estate I could.
Moscow is all about high prices - for everything. That's why you can't go to a cafe without spending $100 for just some small food and glass of wine.
The only thing to do is sit at Mayakovka and drink Baltika! That's always cheap.
