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Real estate in Sochi to exceed Moscows level by Olympics 2014
9.07.2007 12:25
Real estate in Sochi to exceed Moscows level by Olympics 2014

The prices on Sochis real estate will double by 2014, experts say. This fact is confirmed by incredibly fast growing prices on apartments in the city: now the cost of a square meter is 3-4 thousand US dollars, which almost equals prices in Moscow.
      
      This tendency is unlikely to change, since private investors elated with the news about the upcoming Olympics are going to invest more, therefore, the share of apartments built on investors money is to increase from 5 to 50%. The prices on real estate are predicted to go up 40-50% within the next 2-3 years, when in Moscow they will grow 25% max.
      
      Meanwhile, common citizens are afraid of being evicted from their apartments due to mass construction works. However, the authorities claim the rumors are unfounded.
      
      source:
      www.grani.ru
      


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