Foreigners in Moscow are shying away from luxury apartments, while the number of Russians taking them has tripled, reports the Moscow Times, while noting that foreign companies with offices in the city are shocked at sudden unexplained increases of up to 50 percent in their rent. “Elite” apartments still have a majority of foreigners living in them, says the newspaper, but the number has fallen by 18 percent in the first nine months of 2009, a change attributed to foreign companies pulling out top expatriate managers because of the economic crisis. Top apartments, which start at $10,000 a month, remain in demand.
Posted by Ellen Wallace on 7 October 2009 at 8:42 | permalink
This work by genevalunch.com is licensed under a Creative Commons Attribution-NonCommercial-NoDerivs 3.0 Unported.
News story, GenevaLunch, 7 October 2009.
Filed under: World news
Tags: foreigners, high prices, Moscow, rent
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