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View Full Version : Yet another reason not to buy an apartment in Moscow.



Ghost
27-04-2005, 15:21
My girlfriend and I were just chatting about this the other day. She asked me why I would not buy a flat in Moscow and rent it out for the money I could get. I have many reasons, but the latest article in Passport just rounded them all off in a rosey outlook of Moscow's new law.

Has anyone heard about it? Apparently, if you have a flat in a building that is deemed "unsafe" (though what exactly is "unsafe" has yet to be clarified) your building will be scheduled for destruction. Oh don't worry, you'll be compensated. Although the amount you get compensated might cause some distress.

Check out the article. Your building might be next.

http://www.passportmagazine.ru/article/213/

CatGirl
27-04-2005, 15:24
Check out the article. Your building might be next.


My house won't be next. I live in a building (cottage) which is only 5 years old ( if only not young ).

Lady Marmalade
27-04-2005, 15:34
Man, that's just downright evil and scary. Maybe I should send the mayor's wife some of my reputation points cause you just know she's got her finger in the pie somewhere in the middle of this.

Cherry
27-04-2005, 15:44
Dont worry :)

this only concerns pre-revolutionnary buildings or those with wooden perekrytiya (stuff between floors technically speaking)!
just dont pick the very center of Moscow (unless its Kropa's elite houses) because if Luzhkov wants to construct a shopping center he wont consider your rights... so in this case you actually should worry :)

Chubby Hubby
27-04-2005, 16:20
Dont worry :)

this only concerns pre-revolutionnary buildings or those with wooden perekrytiya (stuff between floors technically speaking)!
just dont pick the very center of Moscow (unless its Kropa's elite houses) because if Luzhkov wants to construct a shopping center he wont consider your rights... so in this case you actually should worry :)

I've heard that there are plans to demolish this building, but not to worry! The residents will be given *NEW* apartments near the MKAD somewhere! I guess this is a Russian mentality - kind of like if I run over your dog I can just find you a new one to replace it. Haven't these people ever heard of assessment?

List of buildings getting the axe in '05:

http://orsn.rambler.ru/content/info/7548/

Ghost
27-04-2005, 16:28
Dont worry :)

this only concerns pre-revolutionnary buildings

I'm sure it concerns any building where someone pays to have the city government consider "unsafe". If someone wants to build on your property and they have more money than you, it doesn't matter that you live there or own anything. Your rights? Laf! Rights indeed.

Penguin Snacks
27-04-2005, 18:49
My building is on the list and in the article (Bol. Karetny 6), however, we have set up a condominium (TSJ) for the building and hope to reconstruct it ourselves. A TSJ basically makes it harder for an investor to buy a building and gives the residents priority on any reconstruction.

Still it has given me many sleepless nights. However I can understand expats not wanting to buy here but I am still bullish that prices will keep rising.

Ghost - There are lots of new buildings going up (if you can afford their high rates).

trebor
27-04-2005, 19:23
................There are lots of new buildings going up (if you can afford their high rates).

Buying an apartment in a new building doesn't lower the risks either.
The builder could go bust, the building's completion date could run on and on and on and on.............
Not to mention the other pit falls i discovered when i was looking into it a while back.
That's not to say i wouldn't do it but once you are sure all the paper work is in order and you are as happy (as you can be) with as many of the other pitfalls you have to be prepared to wait LONG TERM to start to make the risk to reward ratio more favourable.

Penguin Snacks
27-04-2005, 19:35
I agree. You definitely need to buy in projects being undertaken by established developers (Don Stroi and Capital Group etc..).

equalizer
27-04-2005, 21:49
i agree on using the top of the name builders but then you also pay for it to.
have rented many appartments before finally buying and i my building has nearly doubled in price ,its not lux or top of the range but new building 2000 and i had to do some research on the company,after finding out this was far from the first project i went ahead.
if buying avoid any of the wooden floored appartments as they are a nightmare.bursting pipes walls cracking,and the worst is pepole with no contents insurance so when the upstairs floods or has a fire your in the ****
and they have no money.
then lets talk about the biggest pain in ass is if you buy an appartment with these rehoused pepole then usually they are assigned the cheap appartments on the bottom floors but try to get money for upgrading the entrance or pay the concierge .............no way.........luzkovs right ship them off to the suburbs..or keep the ones with a good history of payment.