Signs of growth in Moscow property28 Jul 2010 10:50
key is that mortgage products (like in UK) are now becoming available, prior to that it was pretty much cash only purchases. So now house purchase can be more readily achievable by the middle classes.
This was released from CEO of PIK Group,
"The market for residential property continues to show signs of steady improvement, with Moscow leading the way. The Russian economy enjoys a strong fiscal position and is well placed to underpin the recovery of strategically important sectors such as residential real estate. Mortgage lending is improving and we believe the Company is now showing a sustainable trend of improving cash collections"