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I'm in Russia the moment on a holiday.

I would like to get a job here in the future (in oil industry) and because I'm Irish I have been casting an eye over the properties available here in Saint Petersburg and Moscow.

Prices are just plain crazy!

for a modern apartment you are looking to pay about $10,000 per square meter - upwards for a good central location.

+ there are bound to be services fees that you don't think about in the UK - you think council tax is bad? how about paying for armed guards to stop your place betting burgled, you getting shot or your kids kidnapped!

Anyway - for what is a poor country - the prices are atronomical.

Talking to young (potential first time buyers) people - they express no intention to buy - why would they? It's not like anywhere is on even 10x earnings here.

I can only see it go one way and that is down - but presumably these Novoii Russkiis are more than happy to pay for now. There's a lot of very rich people here. Lots of Ferarris, Porsches, huge Hummers, RangeRovers etc...

It's mental here! I think I'll be happy renting if it comes to moving here - especially since there's no guarantee that you're property won't be stolen by the Kremlin or your lawyer didn't read the contracts properly and you only have the rights to the internal surfaces of the property and you don't own a single concrete block! :blink:

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I'm in Russia the moment on a holiday.

I would like to get a job here in the future (in oil industry) and because I'm Irish I have been casting an eye over the properties available here in Saint Petersburg and Moscow.

Moscow is mentally expensive, your looking at £20 for a snack and a small beer in a cafe. Interesting place to visit but cant see why any westerner would move there. Given that the two reasons men move to eastern europe are 1) the women and 2) cheap costs of living it hardly makes sense to move to the one city that is actually more expensive to live than any western capital.

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Its like this in North Africa

Mostly empty x times to expensive for the locals and the party selling to foreigners is over since 2008.

But the banks will not and cannot reposses so you can ask what you lik for a flat/house since nobody is going to buy it.

Nothing like reading a moroccan property forum and everyone is buying houses with pools inflorida for half the price of hovels back home.

Russia must have the same issue of too much black money and rather leave it sitting about any property is better than a bank account.

Edited by Fromage Frais
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in Cracow, Poland, average salary is £500. You need £100k for a nice 3 bed apartment on the outskirts of the city.  :lol:

Actually £100k will give you a 2 bed apartment near the centre.Prices range form 4-9K zloty (1.3K, 3K USD) per Sq meter in Krakow. Wages are on average £600/month in Poland but Krakow wages can be higher. Still P/E is astronomical ... yet the demand is there. Why? There is a shortage of 1million apartments in Poland, people share rooms and sleep in living rooms such is the shortage.Many poles already own their apartments (parents etc) outright (gift of communism) so they can afford to buy with help from other family members and the cost of living here is low so they have saved.

I spoke to an accountant from Moscow, pre crash she was earning $5-6k and looking at buying a small apartment for $250K. Its the reality of living in Moscow. Poor? Its not as simple as that, if you have a good job.

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Moscow and St Petes have crazy property prices, but once you go outside these cities the prices are a lot better.It's easily possible to get a flat for 30k, or a country village house with acres of land for even less, as long as you are well away from Moscow.Most long term expats I know in Russia either have their rent paid or get a nice rent allowance.If you don't expect to stay there very long then I would definitely suggest just renting.Utility bills are really cheap in Russia,instead of council tax there is a sort of small community charge, nothing like as much as council tax.The only properties I've seen there with armed guards are those owned by the Novi Russkies, government, business or mafia, usual people just have a good steel door on the apartment.  Crime is bad, but nothing like the western medias exaggerated views.The Russian market was on the up for the last few years but now things are on a slow downward spiral.Live in Moscow and all your nice expat salary can disappear very quickly if you aren't careful, with most gone on rent.It is possible to save a lot, but this depends on how good you want to live there. B)

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  • 4 weeks later...

I live in central Moscow and rent a nice 70 sq metre 1 bedroom apartment, leafy area, 30 minutes walk from Kremlin. 55k roubles (about GBP 1200) a month, which is better than in London.

Prices for purchase are very high though, but I wouldn't recommend buying anyway as an expat - the right of enforcing your property rights could vanish at any time for any reason.

When you come to visit, estate agents (who are shysters just like anywhere else) will show you the most overpriced places.

Check out www.cian.ru (need to be able tounderstand Russian) or www.budgetmoscow.com for more realistic places / prices.

This is a great city, and I would advise anyone to try it!

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I went out with a girl once who lived on Ulitsa Korolenko in her mother's flat when I was a truck driver and regularly going to Russia in general and Moscow in particular, they had nothing worth stealing but still had an arrangement across their front door that looked like an American death-row cell door, otherwise having the front door kicked in was a given.

The block was so appallingly badly built that you could see into the flat below when you opened the built-in cupboard and the ceiling was about 6' 6" high.

I had many good times there though, It may have changed since I was there (1994-1998) but back then there were a steady stream of people calling round for a vodka and a chat around the kitchen table. I remember much laughter.

Russian authorities were awful to deal with, it regularly used to take me three days to get across the border at Brest or Vaalimaa but ordinary Russian people are friendly and generous.

I always preferred life in the provinces to Moscow, St Petersburg, Rostov etc but probably village life would suit me best in one of those crazy topsy-turvy painted wooden shacks....

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  • 433 Brexit, House prices and Summer 2020

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      • down 5% +
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      • Even
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      • up 5%

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