The number of foreign tenants of medium-priced and high-priced real estate in Moscow increased by 25%.
Expats from Asia, especially China, Taiwan, Japan and India, account for 59% of the demand while Europeans (mostly from Germany, Austria, Finland, Italy and the Balkan countries) account for 27%. Americans account for 14%.
Thirty-five percent renters look for comfort class apartments (RUR 45K to 65K per month) while 58% look for business class apartments (RUR 70K to 150K per month); 7% look for properties worth up to RUR 300K per month.
Analysts noted that Russia is becoming more appealing to foreigners. More business people, managers, middle-level professionals and consultants are relocating to Moscow. American and European business people are opening restaurants, shops, medical clinics and educational companies in Moscow. Expats prefer to live in proximity to their offices.