Big House Big Troubles

apartment in Moscow, Russia 1

These days while US property markets hit the lowest growth levels in Russia those markets are booming, especially in Russia’s capital the glorious Moscow city. Last year property prices grew for more than 100% and the average price is around $6200 for a sq/m, it’s something like $700 for one square foot of the apartment in the house like this one, on the picture above. So many companies try to build as fast as they and cut costs as much as they can to get as the profits as high as they can why the market is growing. Some guys have visited this building’s underground part to check how safe to buy the flat there? Here are some shots:

apartment in Moscow, Russia 2

apartment in Moscow, Russia 3

apartment in Moscow, Russia 4

apartment in Moscow, Russia 5

via rabid-worg

35 thoughts on “Big House Big Troubles”

  1. “So many companies try to build as fast as they and cut costs as much as they can to get as the profits as high as they can why the market is growing.”

    lol

  2. A warning to brothers in Russia– capitalism is all about “boom and bust”, pun intended. The market will be great for a while, then will fall, and many will lose money, just like these buildings will be good for a while, then fall apart.

    • Many state this as a fact, but it turns out to be a self fulfilling prophecy in many cases.

      The asking price is not a selling price. People read everywhere that real estate is so expensive, so they straight away want their piece of the cake and increase the price of whatever they might own.
      Indeed, some of the most expensive property appears to be in Moscow. Prices of up to 30.000 dollars p/m2. But these are exceptions. Although prices are indeed ridiculously high. In particular when taking into account what you get for this money – quite mediocre and poorly build basic apartments without gas, electricity and a kitchen. You buy four walls, that’s it.

    • Crazy russians, how can they be so crazy??? Oh, I forgot, they are the best about everything, and about being crazy too!!! :-)))

    • This is what those diggers (who made the photos) claim. The construction company responds that the sewer is 40 meters away from the construction site. The diggers are going to check this out on Jan 30 (today).
      http://realty.lenta.ru/news/2008/01/30/under/

      • I recall a similar case of piling into the Moscow subway.
        http://englishrussia.com/?p=492

        Although I have a stronger deja vΓΉ about those piles. I wouldn’t be surprised if it turned out to be archive photos from the net.

  3. Russians are so poor, I feel sorry for them. I heard that sponsoring a russian child is less expensive than caring a dog.

  4. I just started using this site today. I really like a lot of the post. But there are a few like this one that are absolutely fake. The first photo obviously has nothing to do with the others.

  5. Once a friend of a friend of mine bought an apartment in a new district around Moscow. THe apartment was planned on the 14th floor. After the building was finished, he had a little problem: there wasn’t a 14th floor, they stopped after the 10th floor. Of course everything was paid for in advance. So he went to court together with the owners of the 11th to the 20th floors to get their money back. They are still waiting.

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