In February 2010 the average prices in the elite residential market didn't undergo any serious changes. Neither new projects were announced, nor new complexes were commissioned in February. Therefore, we don't see any significant price reduction or price growth.
Demand for lease of office space is gradually growing, many companies opt for purchasing office buildings for their own needs instead of signing long-term lease agreements. Still, the market has to digest the negative impact of the financial crisis. First of all, the lease term is reduced and commissioning of several major office centers is postponed.
Several retail operators expressed their willingness to take up the space previously leased by Carrefour, the world's second largest retailer.
Two new hotels were opened in February in Russia: 4-star hotel managed by Russian hotel operator was opened in Moscow, midscale hotel under international hotel operator management was launched in Ekaterinburg.
Several upscale projects came into the countryside market of Moscow Region in February 2010. The average price level in countryside settlements of Moscow Region didn't undergo any serious changes.1. Residential real estate market.............................................................. 3
2. Office market.................................................................................... 5
3. Retail market..................... ............................................................... 7
4. Hotels market......................... .......................................................... 9
5. Countryside real estate market ............................................................ 11