Economics
Rent Prices in Moscow Are Crashing
Alexander Prosviryakov, a commodities consultant, got a bargain on an expensive apartment near Moscow's Tverskaya neighborhood as the exodus of foreign executives spurs rents to plunge.
Photographer: Jake Rudnitsky/BloombergThis article is for subscribers only.
As the Russian economy shrinks, commodities consultant Alexander Prosviryakov is living larger than ever in Moscow.
Prosviryakov, who works at a Big Four accounting firm, got a bargain in April on an apartment two blocks from Pushkin Square -- Moscow’s most popular meeting place. He said he’s paying about half as much in rent as the 120-square-meter apartment (1,300 square feet) went for last year.