A view of construction site. The sign reads: "Popovka."
Photo: Alexey Kudenko
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Western Investors Assess Russia’s Real Estate
In terms of investing in real estate, Russia is the most attractive state in the Central and Eastern Europe, The Wall Street Journal reported with reference to an expert of DTZ Holding.
Russia accounted for 25 percent of all real estate deals made in the Central and Eastern Europe in 2006, having widened the 13-percent share of 2005. By comparison, the share of deals made in Czechia, for instance, slid from 25 percent to 12 percent in the past two years and Hungary narrowed to 7.5 percent from 13 percent.
The deals of commercial real estate may yield to Russia more than €5 billion in 2007. They generated more than €2.5 billion past year and roughly €1 billion in 2005.
Similar to the neighboring states, the shopping space market proved the most attractive in Russia, having covered a half of all estate deals of the past year. Roughly 3 million sq meters of shopping area are expected to be constructed in Russia in the following two years – half of them will appear in Moscow and the Moscow Region.
www.kommersant.com
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