> How Moscow's exodus has turned the real estate market upside down / 33947FR
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How Moscow's exodus has turned the real estate market upside down / 33947FR
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Dropping prices and long-distance sales: the exodus abroad of tens of thousands of Muscovites, opposed to the conflict in Ukraine or fearing to be sent to the front, has turned the real estate market upside down. Many exiles have sold their homes at discounted prices, damaging the market and making the property sector one of the most visible economic consequences of the conflict in Russia. "If last year it was around 272,000 roubles per square metre, this year it was around 251,000 roubles. The drop is about 8% overall," explains estate agent Anastasia Chichikina. IMAGES AND SOUNDBITES