Apartment Prices Up 1.2% for Week

Real estate prices continued their steady climb last week, with an overall index for Moscow prices gaining 1.2 percent in dollar terms, IRN.ru said Monday.

Old "panel-type" and old brick buildings led the way, with prices increasing 1.5 percent on the week to $4,883 per square meter and $5,222 per square meter, respectively, in five-story buildings and other such apartments with small kitchens, the site said.

Apartments in typical nine- to 14-story buildings were not far behind, rising 1.4 percent to an average of $4,942 per square meter.

"In April, the rising rates for Moscow real estate prices will most likely remain fairly high, although after the May holidays, there is a very good chance they will begin to stabilize," IRN.ru said.

The index does not include prices for elite real estate and other nonstandard apartments, which tend to inflate the overall figures, the site said.