Most Expensive Real Estate in Moscow Revealed

PHOTO by Sergei Fadeichev / TASS

Moscow’s most expensive real estate locations of 2016 have been named and according to realtor Point Estate’s analytical department, the “Golden Mile,” a prestigious area of luxury homes and buildings in the city centre between Ostozhenka street and the Prechistenkaya embankment, is number one. The Arbat and Hamovniki neighbourhoods finished second and third.

According to Point Estate, flats in the “Golden Mile” are available for 590,000 roubles ($9,826) a month. Monthly rents in the Arbat district range around 478,000 roubles ($7,960) while a luxury flat in Hamovniki can be had for a monthly fee of about 448,000 roubles ($7,461). At the same time, the analysts noted that the average rental price for luxury flats in Moscow fell by 11% in 2016 to 367,000 roubles ($6,112).

Earlier this month, CIAN’s analysts presented a list of Moscow’s most expensive residential buildings. The prices for flats in the list varied from $26-70 million. According to Moscow’s Incom real estate agency, a studio flat with an area of 227 square metres available for 700,000 roubles ($11,657) per month was the most expensive listing on the city’s rental market.