Top four current trends in property in Moscow
- RSL Law
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16 March 2013
Terra Real Estate, our Moscow partner, have been updating us with the latest trends in the Russian Property Market. Apparently, the buzz word is ‘turn-key properties. Russian people demand ‘high end’ and well constructed properties with fully designed interiors, furnishings, extensively equipped kitchens and even co-ordinated tableware, bathroom accessories and other domestic luxuries.
The second trend that can be noted is ’the bigger the better’ is no longer the mantra. Clients are now aware of pricing per square meter and the value it represents; coupled with the quality of construction and architectural design, which have moved up in the list of considerations when purchasing real estate in Moscow.
Thirdly, ‘the environment’ is taking on more importance. It is not all about ‘location, location, location’ any longer. Though living outside the city with green space and lakes has been preferred for a while, now Russian purchasers started to take more interest in the materials used in the construction of real estate, and the so called ‘internal’ environment of a house.
Finally we see transport infrastructure as a consideration. Many choose to live near main transport arteries like Rublevskoe Motorway. Now we are seeing much excitement over the completion of the construction of the New Riga Motorway, which connects to elite suburban developments outside Moscow. In addition there will also be a new toll motorway in the North of Moscow and new luxury trains ‘Aeroexpress’, which already operate to whisk you to the centre of Moscow from the lovely Rublevka in 30 minutes.