You are here

Sanctions against Russia depress Moscow rental income

European, US companies have pulled workers out of the country; rouble down 11% against euro

BT_20141125_MOSPROP25_1382167.jpg
Foreigners account for 66 per cent of high-end property in Moscow, where demand has dropped 10 per cent in the first nine months of this year, according to Intermark Savills.

London

TIMUR Pankov was effectively living rent-free in Paris nine months ago, because the cost of his apartment was covered by the income from his Moscow property.

Russia's incursion into Ukraine has made the arrangement a lot less attractive.

The rouble has slumped by 11

sentifi.com

Market voices on:

grab

Receive $80 Grab vouchers valid for use on all Grab services except GrabHitch and GrabShuttle when you subscribe to BT All-Digital at only $0.99*/month.

Find out more at btsub.sg/promo

Powered by GET.comGetCom