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Moscow
trezor.io

Moscow

Living costs
During Soviet times, apartments were lent to people by the government according to the square meters-per-person norm (some groups, including people's artists, heroes and prominent scientists had bonuses according to their honors). Private ownership of apartments was limited until the 1990s, when people were permitted to secure property rights to the places they inhabited. Since the Soviet era, estate owners have had to pay the service charge for their residences, a fixed amount based on persons per living area.
Due to the current economic situation, the price of real estate in Moscow continues to rise. Today, one could expect to pay US$4000 in average per square meter (11 sq ft) in the outskirts of the city or US$6,500–$8,000 per square meter in a prestigious district. The price sometimes may exceed US$40,000 per square meter in a flat. It costs about US$2500 per month to rent a 1-bedroom apartment and about US$1500 per month for a studio in the center of Moscow.

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Date added:Jan 19, 2009
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