Moscow has come in 13th place in a world ranking of cities with the most expensive high-end real estate.
The ranking, produced by the international consulting company Knight Frank, lists the number of square meters that can be purchased for $1 million in cities throughout the world.
According to data compiled at beginning of October, $1 million can buy 81 square meters in Moscow, on average, the Vedomosti business daily reports citing Knight Frank.
Moscow beats out Berlin and Tokyo, where $1 million can buy 84 and 91 square meters respectively.
The most expensive real estate is in Monaco at 17 square meters per million, Hong Kong — 19 square meters per million — and New York where $1 million buys 26 square meters.
The past decade has seen a significant decrease in the cost of high-end real estate in Moscow, according to the Knight Frank report. Ten years ago, $1 million could purchase 30 square meters fewer than today.
A Message from The Moscow Times:
Dear readers,
We are facing unprecedented challenges. Russia's Prosecutor General's Office has designated The Moscow Times as an "undesirable" organization, criminalizing our work and putting our staff at risk of prosecution. This follows our earlier unjust labeling as a "foreign agent."
These actions are direct attempts to silence independent journalism in Russia. The authorities claim our work "discredits the decisions of the Russian leadership." We see things differently: we strive to provide accurate, unbiased reporting on Russia.
We, the journalists of The Moscow Times, refuse to be silenced. But to continue our work, we need your help.
Your support, no matter how small, makes a world of difference. If you can, please support us monthly starting from just $2. It's quick to set up, and every contribution makes a significant impact.
By supporting The Moscow Times, you're defending open, independent journalism in the face of repression. Thank you for standing with us.
Remind me later.
