Articles by Sergei Zharkov



Experts: Rents Set to Stabilize

Apartment rents in Moscow have been growing steadily for the last six months, and the traditional August seasonal increase this year has surpassed all expectations.

Study: Flats Average $1,000 Per Meter

Real estate prices in Moscow have surpassed pre-crisis levels and an important psychological mark -- $1,000 per square meter -- according to a recent 2002 market report.

Norilsk Snaps Up Promstroi Complex

Norilsk Nickel could move into the former home of bankrupt Promstroibank at 13 and 15 Tverskoi Bulvar soon after the New Year.

Skanska to Finally Finish Novinsky 31

Construction company Skanska announced last month it had won the contract to finish building the Novinsky Bulvar office and retail center at an estimated cost of $22 million.

Pinched Retailers Bargain for Deals

After a disappointing summer, many Moscow retailers have come to their senses and are no longer taking the first property they find for fear of stifling their business growth.

Europa Park to Enliven Kievskaya

City Hall plans to turn the square at Kievsky Station into a pleasant place to spend an afternoon by September.

City Hall Sees Future in Rentals

City Hall has plans to turn a profit from renting out municipal apartments.

New Homes Expo Announced

Prospective home-owners will finally be able to compare the full range of new housing offered in the capital when a permanent exhibition-cum-trade fair is launched next month.

City Opens Wasteland to Development

Mayor Yury Luzhkov has signed a resolution determining which companies will participate in developing Khodynskoe Pole, the last large undeveloped area in central Moscow.

Yukos 'Smart' House Tops $40M

None of the oil majors change their Moscow address as often as Yukos does, and now the No. 2 oil player is investing into a building designed especially for itself.

Ramstore Expanding Into Global USA Retail Space

Ramstore operator Ramenka is to open a chain of supermarkets in buildings belonging to Global USA.

BIN Gains Control of Petrovsky

The prestigious Moscow shopping mall Moscow Petrovsky Passazh is now under the control of the BIN group.

Moscow Region Plans Mortgages

The Mortgage Corporation of the Moscow Region plans to provide mortgages at a 12 percent interest rate.

Muscovites Put Their Money in Real Estate

Some Moscow entrepreneurs are reaping profits of up to 40 percent by buying and selling apartments.

Offices Nearing Pre-Crisis Rates

Office prices raced up over the summer as demand neared a level not seen since before August 1998.

Benetton Buys Retail Space For New Shopping Complex

Italian group Benetton has purchased the Krasnopresnensky department store and the adjacent buildings.

Sotheby's Moves In to Elite Moscow Real Estate

Wealthy Muscovites can now turn to Sotheby's auction house for help in navigating the high end of the housing market.

Retail Center Lifts Soviet Statue

City hall has decided to turn the square in front of the all-russian exhibition center, formerly VDNKh, into a giant retail and exhibition center by 2005.

New Office Space Up for Grabs

Moscow is set to gain a lot of new office space this year Ч but there will be no surplus as demand for offices is growing and the amount of unoccupied space has declined.

300 Retail Centers to Spring Up

City Hall has approved a plan to build 300 new shopping complexes occupying 6.3 million square meters over the next 20 years.

Building Surges in Housing Shortage

A housing construction boom has returned to Moscow, leaving realtors to happily note the steadily rising prices for concrete-slab apartments in large-scale construction areas.

Town Houses Set New City Trend

The majority of Muscovites live in apartments; a few prefer suburban properties. But there is a third category Ч people who buy or rent houses within the city limits.

Spring Rush Is On for Cottages

Each spring city residents scour the countryside to find dachas before warm weather arrives. Some are looking into rental agreements, while others want to buy.

Merger Set To Create Real Estate Powerhouse

Korporatsia Inkom and the Moscow Central Property Exchange, or MPE, have begun merger talks that would create the country's largest real estate agency, MPE said.

State Rethinks Apartment Values

The State Construction and Housing Committee is set to approve new methodology for valuing apartments, to bring the official valuation closer to the property's market value.

Housing Prices to Remain Stable

Despite a sharp rise in the cost of construction equipment, most specialists are not predicting a leap in prices of newly built housing.

Prices Rise for Scarce Office Space

As the economy picks up momentum, many companies are looking for options to increase their office space.

Retail Sector Growth Drives Mall Construction

The new Mirage shopping complex is yet another sign that burgeoning retail growth in Moscow is pushing developers toward shopping-center construction.

Real Estate 'Arms Race' Hits Yekaterinburg

Housing prices in Yekaterinburg have been rising by 2 percent per week since the start of August, while supply levels have fallen.

Cheap Housing Supply Falls

Despite the rising demand for cheap apartments, few are being built in Moscow these days, realtors say.