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Real Estate Briefing - Categorized | Investment, Market Moves more

Russia: Real estate is vibrant despite market woes

Posted on 23 August 2011

Russians have turned to real estate as a safe haven for investment over the last two months amid the high volatility of world financial markets caused by Standard and Poor’s downgrading the U.S. credit rating and the debt crisis in Europe, developers said.
“We have noticed … a sales increase in August, it’s both direct sales of new homes and mortgage deals,” said Pavel Kocheryozhkin, deputy chief executive of YIT Moskovia, a subsidiary of Finnish developer YIT……………………………………….Full Article: Source


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