$1bn of Moscow real estate coming up for sale, consultants predict

Moscow City

As much as $1bn worth of Moscow real estate could be put on sale in the near future, consultants are predicting, as developers look to trade in land for liquidity in the face of soaring project financing costs. The prediction comes from the Kalinka Group real estate consultancy,  whose Development Director Alexei Sidorov forecasts that, with  the cost of financing being driven up by  high interests rates and Russian  banks’  restricted access to international capital markets following events in Ukraine, more than 2.2 million square metres could soon flood the market. Asian investors with experience as contractors and subcontractors in Russia are seen as likely buyers, the company is predicting.