The latest report by the Kalinka-Realty Consulting Agency in Moscow states that some segments of the luxury real estate market in Moscow fell in price by as much as 60 percent in 2009, with properties that were previously priced at $5 million plus being available at less than $2.5 million.
More on Luxury Home Prices in Moscow fell 60 percent in 2009
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Yelena Baturina, Russia's Richest Woman
Just a year ago, Yelena Baturina was riding high on Russia’s property bubble. Ms. Baturina is (or was) Russia’s richest woman. It did help to have friends in high places and her husband just happens to be Mayor of Moscow – Yuri M. Luzhkov, who has spent billions of roubles on infrastructure and building projects in the capital, many of which contracts’ were won by Ms. Baturina’s construction company, Intenko.
More on Russian Luxury Property Developer Seeks Government Aid
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