Pardon me for having to cut an excerpt from global property guide article but i guess everyone should have already found the Moscow boom quite interesting:

The average price of an apartment rose to US$16,363 per sq. m. in prime Moscow districts in Q3 2006, according to Knight Frank, Moscow. Re-sale apartment prices rose 62.8% in the three quarters to Q3 2006. Newly built apartment prices rose by 79% in the three quarters to Q3 2006. A small three-room apartment (60 sq. m.) in central Moscow is now worth US$1 million. First-class apartments can command twice that or more – US$30,000 per sq. m. and up is not unknown.

In other words, if not in Moscow, where else would you invest?


(article source:)
Moscow just keeps on booming!

Gee. Do you think there are any risks involved? If not, go for it. The Russians are well known for their sense of fair play in business.

So you think your paltry Western money is needed over there?

Have a read of this one:

Property To Die For

or this one

Moscow's Property Lawlessness

Part of the reason that Russians are buying in London in such great numbers is uncertaintly over what will happen in 2008 when Putin's reign should come to an end.

Don't touch anything there unless you speak fluent Russian and if you do speak fluent Russian, watch the nightly news over the internet on RTRPlaneta and witness the growing anti-foreigner sentiment and return to central control.

Racism Attacks That Stain Russia

here is a good story from the nyt about moscow


http://immobilienblasen.blogspot.com/2007/02/moscow-nyt.html

Teddy Bear you make me laugh.
You sound like a reporter for the Sun.

Mixed race girl stabbed in moscow. Haha racists attacks slur Russia. Would you like me to give you an indication of how many racists attacks happen in the UK on a daily basis?

Yes russian businessmen have a bad reputation and there are risks involved but no different from numerous other countries.

It would be ridiculous to write off the whole property market based on 3 ridiculous cut outs from newspapers.

Property prices have been rocketing up over the past 18 months and there are thousands of people (probably corrupt people) who have millions to spend.

The gap between rich and poor is big but the rich are super rich and the demand is without doubt there.

I did not write off the Moscow property market. Fortunes have been made there and will continue to be (property has been rocketing for a lot longer than 18 months too). However, foreigners have been fleeced in Russia ever since perestroika began, in every area of business, from the largest oil companies to the international financial institutions to the much smaller fry, so it was a buyer beware message. If hundreds of Brits can get themselves ripped off in Spain buying properties then your average non-expert Brit should not be touching Russia with a bargepole. Of course, if you have money that you can afford to take big risks with, then Moscow could be a risk worth taking but if it means that you MEW your UK home to buy in Moscow with the risk that your property will fall subject to compulsory purchase or, worse, burn down in one of those fires that conveniently happen, well.....

there's a reason why money makes money.

You are a very crass person to write "ha ha" about the story of the murder of a child. Sadly, none of those BBC articles are sensationalism.

Too risky for me.

Why take such a risk when Berlin offers more potential yet far far safer and much more stable future?

I dont invest on the back of historic price action - as this indicates the easy money has already gone.

Prefer to invest just prior to the price action.

Still plenty of time to get into Berlin and the surrounding hinterland. Employment and growth are rising, there is a looming property shortage on the back of years of low new build due to recession. Prices vastly lower than London, the hinterland can be hundreds of times cheaper than the London home counties yet Berlin incomes are catching up with Londons. I well recall 'worthless' property such as run down warehouses outside London in the past yet now such places worth millions.

Classic buy signals.

Moscow is in the doldrums right now, with conflicting signals. The last average monthly rise in prices was only 1.3% from mid-Sep to mid-Oct and 2% from late Sep to late Oct.

I'm with Dogbox on this one - Germany is a far safer, long term investment than any other area I've researched.

To be honest, I really do not think Germany is going anywhere fast - it could be a rather frustrating investment. In my mind, if you are looking to choose between Russia and Germany, a good indicator of what is going to happen - besides looking at the housing market indices, of course - is to look at where energy prices are going. Up? Then it's Russia! Down? Then go for Krautland!

I own a company that studies housing market trends in the Slavonic countries. Nothing much will happen in Moscow before the end of the year, as the market is taking a breather in 2007 after doubling in 2006, now it is deciding where it is going to go next. I think it will pick up in Q1 2008, though maybe not spectacularly.

Also depends on what part of the market you target. Right now in Moscow, the only real rises are at both ends of the housing market - cheaper one-room flats and expensive, elite housing.

St Petersburg seems a better general bet right now, with prices rising in Q3 2007 mainly due to certain seasonal factors and demand that had been held off for as long as possibly finally biting the bullet and taking the plunge. There are still some very good investment opportunities to be had in the centre.

If anyone is thinking of investing in Russia, they are welcome to send me a private message with a specific question, will try to answer as best I can.