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Garages Bypass Cars and Even Houses
The Muscovites are apparently ready to spend on garages even more than on flats. During the auction that ended late Tuesday, 11 places in the underground parking lot of some apartment house in Novogireevo suburb of Moscow were sold for more than $100,000 each, i.e. $20,000 higher than in central Paris. Each sq meter of the parking cost $5,500 vs. $4,200 averagely charged per a sq meter of dwellings.
On Tuesday, the Moscow Property Department put up for sale 13 car places in the 16-storey apartment house in Novogireevo. The starting price was from $1,250 per sq meter to $1,431 per sq meter.
The trading results surpassed the boldest expectations. Only two car places were sold below $100,000. The first has the minimal area and was sold for $50,000, while the second box is located underground and was bought for $96,800. The prices for other car places soared to over $100,000 and even to $125,600 ($6,750 per a sq. meter) for one of them.
The buyers are tenants of the house, which is far from the luxury type. “I wonder what cars the tenants of this economy-class house have, if they buy such parking places for them,” commented Valery Barninets, sales director at Agent 002 Real Estate Agency. The cost of a car place in that parking lot of Novogireevo matches the prices for Audi A8 3.2 FSI ($98,727 in Audi Center City) or Lexus LX470 ($99,400 in Business Car outlets).
The analysts attribute the surge in prices to acute shortage of parking lots. Around 3.5 million cars have been registered in Moscow, while the number of registered parking places is just 1.6 million.
www.kommersant.com
All the Article in Russian as of Feb. 01, 2007
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