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rugbymad
13-11-2009, 16:00
So much depends on the oil price - see for yourself. If you overlay a graph of world oil prices and the Moscow real estate prices, they match up pretty well, with real estate lagging a few month behind. The connection is fairly obvious. According to the graphs on irn.ru, Moscow prices are already slightly on the up - that again would correspond to what's happened with oil in the last year. I'd be fairly surprised if prices didn't start going up again soon, albeit fairly steadily and slowly. Long term, they might be going up fairly radically if we get the big spikes in the world oil price that I am expecting. I don't think they will ever fall much - compare Moscow to any big city in UK or Europe and it doesn't look that expensive.