Real Estate News

Russia Struggles to Control Rocketing Mortgage Interest Rates

  • December 22, 2014
Russian authorities are mobilizing to clamp down on spiraling mortgage costs as a looming recession erodes real wages and threatens to hammer homebuyers.

Moscow Metro to Get Modernizing Makeover in 2015

  • December 15, 2014
The Moscow metro is about to get a modernizing overhaul, including new signage with English translations, new ticket machines and renovations across 100 stations, the metro's deputy director Yury Degtyarev told city news agency Moskva on Monday.

Moscow Hotels Struggle as Foreign Tourists, Businessmen Go Elsewhere

  • December 15, 2014
The loss of foreign travelers is posing a thorny problem for Moscow hotels, whose livelihood depends on a steady stream of foreign tourists and businesspeople, the Vedomosti newspaper reported.

Moscow Sees $1 Billion in Elite Apartment Sales as Ruble Falls

  • December 15, 2014
The elite property market in Moscow is booming this year with more than $1 billion in sales as new offerings and the ruble's slide against the dollar spur wealthy Russians to safeguard their earnings in real estate.

Russian State Fund May Step In to Help Big-Box Retailers

  • December 08, 2014
As Russia's worsening economic situation crimps investment, the state-run Russian Direct Investment Fund (RDIF) is negotiating with major retail chains to finance construction of new stores, the Vedomosti newspaper reported Monday, citing sources close to the negotiations.

Russia Builds New Arctic Military Base

  • December 08, 2014
Russia's Defense Ministry has completed its third Arctic military installation, as Moscow ramps up defenses on its northern border amid an international push for control of the resource-rich territory.

Crimean Government Steps Up Property Confiscations

  • December 08, 2014
The Crimean government has seized 160 hectares of illegally acquired land located in a protected nature reserve, as local authorities and private groups continue to redistribute property following Russia's annexation of the peninsula in March.

Moscow Opens 196th Metro Station

  • December 08, 2014
Moscow opened its 196th metro station on Monday, even as Mayor Sergei Sobyanin's ambitious 2.9 trillion ruble ($54 billion) transport plan comes up against the harsh new realities of Russia's worsening economic situation.

Builders, Hotels: Real Estate in Brief

  • December 01, 2014
Sanctions Prod Russian Builders to Replace German Equipment With Chinese; Want a Russian New Year's Hotel Bargain? Go to Sochi, Not Suzdal.

Falling Ruble Boosts Housing and Hotels Over Offices and Warehouses

  • December 01, 2014
While warehouse and office real estate markets in Russia are close to saturation, analysts see promise in the hotel and housing sectors, as the falling ruble currency turns residential property into an increasingly attractive devaluation-proof asset class.

Moscow Sells Half Its Movie Theaters for $184 Million

  • December 01, 2014
Nearly a year after they were first put up for sale, Moscow City Hall has finally sold 39 of its 78 movie theaters for 9.6 billion rubles ($184 million) — the starting price at auction, news agency RBC reported.

Moscow's Stoleshnikov Among World's Top 10 Most Expensive Streets

  • November 24, 2014
For the first time in a decade a street in Russia has made it to the top 10 list of most expensive shopping avenues in the world, a report released last week revealed.

Housing Construction Booms as Trouble Lurks Ahead

  • November 24, 2014
Between January and October 56.1 million square meters of housing, or nearly 730,000 apartments, were built in Russia, a 23.7 percent increase from the same period last year, news agency Interfax reported, citing data from the state statistics agency, Rosstat.

Russia Overtakes Britain to Rank 2nd in Europe for Shopping Center Space

  • November 24, 2014
Despite a sharp economic slowdown, Russia has the second-largest stock of leasable shopping center retail space in Europe, a report from Cushman & Wakefield showed.

Elite Home Sale Offers Surge as Economic Outlook Darkens

  • November 24, 2014
The number of real estate listings in two of Moscow's elite neighborhoods has leaped as economic volatility and an upcoming tax hike rattle nerves among Russia's richest citizens.

No More Golden Toilets: Rich Russians' Taste in Real Estate Is Changing

  • November 24, 2014
Golden toilets and monumental hallways no longer top the must-have list for a luxury apartment in Russia as demand shifts to functionality rather than flamboyance, research published Monday revealed.

Putin Orders Road Development Program

  • November 17, 2014
President Vladimir Putin has commissioned a program for developing Russia's patchy road network by July 2015, according to the Kremlin's website.

Russia's Weak Ruble Puts China's Moscow Development Projects On Hold

  • November 17, 2014
At least two Chinese construction and development projects in Moscow were reportedly postponed last week as the depreciation of the ruble, which has fallen over 30 percent to the dollar since the beginning of the year, hit the firms' cost estimates.

Drop in Russian Tourists Hits Kiev's Hotels Hard

  • November 17, 2014
Kiev's hotel occupancy rate has fallen 42 percent year-to-date as Russian tourists keep their distance from Ukraine's crisis-struck capital city, said a report by JLL Hotel & Hospitality Group.

Olympic Builder's CEO Charged With Embezzlement and Tax Evasion

  • November 17, 2014
The hard-pressed chief of bankrupt 2014 Winter Olympics builder Mostovik has now been charged with tax evasion and embezzlement in the Siberian region of Omsk, adding to earlier charges of withholding wages from employees.