Real Estate in Moscow, Russia
Last updated on Sep 05, 2024
Summary: The average cost of a nice 2 bedroom home in Moscow, Russia is around $1.5 million USD, while a nice 3 bedroom home can cost around $2.5 million USD. These properties typically include modern amenities such as air conditioning, central heating, and high-end appliances. Some may also include a balcony or terrace, as well as a parking space. Foreigners are allowed to purchase property in Moscow, but there are certain restrictions. For example, foreigners are not allowed to purchase agricultural land or land located in certain areas. When searching for a home to buy in Moscow, an expat should consider their budget, desired location, and the type of property they are looking for. It is also important to research the local real estate market and consult with a real estate agent who is familiar with the area. The most desirable neighborhoods in Moscow include the Arbat, Khamovniki, and Presnensky districts. These areas are known for their high-end shopping, restaurants, and cultural attractions.
How do I find a place to live in Moscow?
We asked expats how they chose their neighborhood and found a place to live. They answered:
"One of the best ways to find a place to live in Moscow is to use online rental platforms such as Avito, Cian, and Yandex.Realty. These websites offer a wide range of rental options, from apartments to houses, and can be filtered by location, price, and amenities. Additionally, you can also search for rental properties on social media platforms such as VKontakte and Facebook. It is also possible to find a place to live in Moscow through real estate agencies, which can provide more personalized assistance in finding a suitable property," remarked one foreigner who made the move to Moscow.
"We chose a family friendly area - Chisty Prudi - and used Evans estate agent for our first two apartments and Penny Lane for our last one. We used others too but Evans worked out to be the most reasonable overall and their agent actually listened to what we wanted, rather than showing us a whole load of rubbish. Penny Lane did a great job helping us find our last apartment," explained one person living in Moscow, Russia.
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What is a typical expat home or apartment like in Moscow?
"Apartment. Yes, in town it's almost always an apartment. Some expats prefer to live in the compounds out of town, which are usually town houses," explained one expat living in Moscow, Russia.
"Expat homes and apartments in Moscow tend to be modern and well-equipped, with many featuring high-end appliances and furnishings. Many expats choose to live in the city center, where they can enjoy easy access to the city's many attractions and amenities. Expat apartments often come with a range of amenities, such as a gym, swimming pool, and sauna, as well as a concierge service. Expats can also expect to find a variety of restaurants, cafes, and bars in the area, making it easy to socialize and explore the city," said one person in Moscow.
What is the average cost of housing in Moscow?
If you are thinking about moving to Moscow, cost of living in probably a key consideration. Expats commented about the cost of housing:
"Much higher. I could rent a house on the beach in South Carolina for the price of a 2 room flat here. Expect to pay $1200-1800 a month if you live alone," remarked one member in Moscow.
"The cost of housing in Moscow is generally quite high. Prices for apartments in the city center can range from around $1,000 to $2,500 per month, while apartments in the suburbs can be slightly cheaper. Prices for luxury apartments can be significantly higher," explained one expat living in Moscow, Russia.
Should I buy or rent a home in Moscow?
If you have not spent a lot of time in Moscow, you should rent before even thinking about buying. We asked expats there about the buy vs. rent decision:
"Buying a home in Moscow can be a great investment, as the city is a major economic and cultural center. However, it is important to consider the cost of living in Moscow, as it is one of the most expensive cities in the world. Renting a home in Moscow can be a more affordable option, as it allows you to enjoy the city without the long-term commitment of buying a home. Additionally, renting can provide more flexibility if you are unsure of how long you will be living in Moscow. Ultimately, the decision to buy or rent a home in Moscow depends on your individual needs and budget," remarked one foreigner who made the move to Moscow.
What do I need to know when buying property in Moscow?
When we asked expats what advice they would give a foreigner before buying a property in Moscow, they said:
"1. It is important to research the local market and understand the current trends in the area before making a purchase. 2. It is important to understand the legal requirements for purchasing property in Moscow, such as the need for a notarized contract and a valid passport. 3. It is important to be aware of the taxes and fees associated with purchasing property in Moscow, such as the transfer tax and registration fee. 4. It is important to be aware of the local infrastructure and amenities in the area, such as public transportation, schools, and hospitals. 5. It is important to be aware of the local laws and regulations regarding property ownership, such as restrictions on foreign ownership. 6. It is important to be aware of the potential risks associated with purchasing property in Moscow, such as the risk of fraud or corruption," explained one person living in Moscow, Russia.
Are foreigners allowed to own property in Moscow?
When we asked expats what advice they would give a foreigner before buying a property in Moscow, they said...
"Yes, foreigners are allowed to own property in Moscow. However, there are certain restrictions and requirements that they need to follow. Foreigners must obtain a temporary or permanent residence permit to purchase residential property. Additionally, they may face limitations on the type and size of the property they can buy. It is also important to note that foreign individuals are not allowed to own agricultural land in Russia. Despite these restrictions, many foreigners successfully purchase property in Moscow for personal use or investment purposes," said one in Moscow.
What appliances are typically included in a rental?
We asked foreigners in Moscow what appliances are typically included in a rental, and, if there is anything else included or not included that a newcomer would not expect. Replies included:
"Rental properties in Moscow typically include a refrigerator, stove, oven, washing machine, and dishwasher. Other common appliances may include a microwave, toaster, and coffee maker. Heating and air conditioning systems are also usually included," said one person in Moscow.
Additional Information about Searching for a Home in Moscow:
We asked foreigners in Moscow what appliances are typically included in a rental, and, if there is anything else included or not included that a newcomer would not expect. Replies included...
"Expats searching for homes in Moscow, often begin by researching online through various real estate websites and portals that cater to foreigners. They may also join expat forums and social media groups to seek advice and recommendations from fellow expats who have experience in the Moscow housing market. Another option for expats is to work with a local real estate agent who is familiar with the needs of foreign clients and can help navigate the complexities of the Russian property market. These agents can provide valuable insights into the best neighborhoods, rental prices, and available properties that suit the expat's preferences and budget. Expats may also consider reaching out to their professional network or colleagues who have already relocated to Moscow for recommendations on housing options and trustworthy real estate agents. Visiting Moscow and exploring different neighborhoods in person can also be helpful for expats to get a feel for the city and identify areas that align with their lifestyle and preferences. While visiting, they can attend open houses or schedule property viewings with real estate agents to find the perfect home. Lastly, expats should familiarize themselves with the local rental laws and regulations, as well as the required documentation for renting a property in Moscow. This will help ensure a smooth and hassle-free experience when securing a home in the city," wrote one expat who made the move to Moscow.
About the Author
Betsy Burlingame is one of the founders of Digital Nomad Exchange and the Founder and President of Expat Exchange. She launched Expat Exchange in 1997 as her Master's thesis project at NYU. Prior to Expat Exchange and Digital Nomad Exchange, Betsy worked at AT&T in International and Mass Market Marketing. She graduated from Ohio Wesleyan University with a BA in International Business and German.
Some of Betsy's articles include 12 Best Places to Live in Portugal, 7 Best Places to Live in Panama and 12 Things to Know Before Moving to the Dominican Republic. Betsy loves to travel and spend time with her family. Connect with Betsy on LinkedIn.
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