Price correction is a phrase that’s much in vogue, both in real estate and beyond. Analysts are readily reaching for this term to describe the rental property market. Results for February this year show that the average rental rate in the high-end segment stood at $6,280 per month, said Konstantin Kovalyov, managing partner at Blackwood. This is a 1.7 percent decrease on similar figures for January and overall, a 16 percent drop since the economic crisis began, he added.
Despite demonstrating an array of negative economic figures in recent months — including in the property market — Latvia is still attracting limited investment in real estate. With low prices, a wide range of properties and a climate in which buyers are able to barter, the Baltic state is also providing opportunities for foreigners still looking for a long-term investment.
Kutuzovsky Prospekt is one of Moscow’s most famous thoroughfares. The high status of the route, which carries government motorcades to the Kremlin, is simultaneously both an advantage and a problem. But in the vast majority of cases, it is precisely because of its image that deals are concluded, according to estate agents.