Culture, History, and Business

The city is a compendium of various cultures adopted from interactions with multiple nations over time. The Muscovite cultural scene is an inter-cultural mix of Baltic tradition, eastern Slavic culture, Nordic and byzantine cultures. All across the city are museums of carefully well-preserved pieces from what the city used to be. Moscow became the capital of Muscovy (the Grand Principality of Moscow) in the late 13th century; hence, the people of Moscow are known as Muscovites. Today it is not only the political apex of Russia but the most industrialized city in northern Europe.

Moscow is the fifth-largest national economy in Europe, with over 30% of the world’s natural resources estimated at $75 located within. It is ranked the eleventh-largest nominal GDP in the world. Thus, Moscow’s economy strengthened through years of business alliances. The city’s economy depends on exports and energy revenues. Major export products such as crude oil, natural gas and precious metals control the stock markets. In 2012, the oil-and-gas sector accounted for 16% of GDP, 52% on federal budget revenues and over 70% of total exports. When it comes to the world’s energy distribution statistics, Moscow is considered an energy superpower. 

The concentrically laid-out city is one of the world’s top real estate investment sites. Previously known for its highly exorbitant property interest rates. However, the interest rate in the Russian real estate market has fallen over the years. Currently, the resale value for apartments has risen by 6.91%, while the Quarter-on-quarter resale prices rose by 0.48% when adjusted for inflation going by the data from the federal state statistics service. Moscow’s real estate market remains one of the most important in the Russian market, with the price index for resale apartments rose by 3.16% during 2019 in contrast to an annual decline of 2.82% in 2018. Currently, the average monthly rent in Moscow is $594. With these steady rates in the real estate market, one can only hope interested investors make good use of it. 

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Best Places to Buy Real Estate in Moscow

The city of Moscow is one of the most sought after real estate markets in Europe. More so, the city is held in high regards with respect to economic prowess and political affiliations. It is the ...
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