Luxury Homes Still Selling

While the world outside faces a number of crises, with house prices plunging, markets slumping and banks collapsing, Russia's cocooned super-rich can still spare 2.5 billion rubles ($99 million) for a townhouse apartment within strolling distance of the Kremlin.

Property agency Agent 002 said Friday that an unnamed buyer bought the seven-story, 1,300-square meter apartment near the Kurskaya metro station.

"For Moscow, it's an absolute record," said Agent 002 spokesman Ruslan Barabash.

Barabash declined to identify the purchaser, but said he was an "active businessman," around 40 years old.

"It's not Abramovich, it's not Deripaska and it's not Prokhorov," Barabash added, naming three of the country's wealthiest tycoons.

"It's a completely beautiful home. The design is in the high-tech style," Barabash said.

The townhouse apartment, located almost directly in the city center near the Kremlin, has its own swimming pool, a children's floor and a winter garden on the roof.

Real estate analysts believe that the current record could soon be broken, with demand strong at the top of the market.

"I think a price of 2.5 billion rubles is not the limit for Moscow, and in the near future there may be even more expensive sales," property analyst Tatyana Makeyeva said.