December 20, 2022

While Supplies Last


While Supplies Last
Get them while they're hot! Andrey, Flickr

Low demand has led Moscow real estate prices to fall by as much as 35 percent, and developers are scrambling to push properties with special sales and promotions.

Russian real estate experts note that the crash, affecting 75 percent of apartments, is unprecedented, even during previous economic crises.

In actuality, the overall price decline is being driven by steep discounts being given to those willing to pay 100 percent upfront, with higher deposits, or without a government-assisted mortgage. Actual face-value prices have decreased just 6.7 percent in the capital, resetting them to 2020 levels.

Analysts predict prices will continue to fall during 2023 and beyond, citing low demand and high (and increasing) supply: 66 percent of newly-constructed units are standing empty.

Meanwhile, as real estate prices fall, the cost of food has increased, and large numbers of Muscovites have fled the country since Russia invaded Ukraine.

The Russian economy remains out of kilter, with poor long-term prospects.

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Senior Lieutenant Pavel Matyushkin is back on the case in this prequel to the popular mystery Murder at the Dacha, in which a serial killer is on the loose in Khrushchev’s Moscow...
Murder at the Dacha

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Senior Lieutenant Pavel Matyushkin has a problem. Several, actually. Not the least of them is the fact that a powerful Soviet boss has been murdered, and Matyushkin's surly commander has given him an unreasonably short time frame to close the case.
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Fish: A History of One Migration

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