Luxury apartments with city views are drawing high-end real estate investors in Russia.
Photographer: Pintai Suchachaisri/Moment RF/Getty Images
Moscow Property Rivals London as Rich Russians Bring Cash Home
High-end real estate in the city is seeing a surge in demand as Russians invest back home and turn away from overseas deals because of sanctions.
Three years into the war with Ukraine, Russia’s wealthiest are increasingly bringing their money home, fueling an unlikely rebound in high-end Moscow real estate.
Faced with fewer options to spend abroad as international sanctions force banks to crack down, many Russians are repatriating cash and parking it in the safe haven of domestic property. Others are using real estate as a hedge against inflation that has surged since the invasion of Ukraine, forcing the central bank to jack up rates to record highs.