Comparison of apartments in Moscow and Riga.
Real estate in Russia, particularly in Moscow, according to European standards is very expensive, and the mortgage is not available for most of Russian inhabitants. #
Experts have calculated what should be the salary for the Russian Federation resident, so he could afford to buy credited typical standard two-bedroom apartment without a specific repair:
- Russian resident should get 1700 euro per month;
- St. Petersburg resident should receive 2 700 euro per month;
- Moscow resident should receive from 3800 euro per month.
Analysts in their calculations assumed that the prospective borrower has 15% of the purchase price, and the bank gives him a loan of 15% per annum in rubbles for 15 years. Another condition - a payment on a loan may not exceed 40% of monthly income.
Salaries were calculated based on Rosstat data on secondary dwellings costs in the third quarter of 2013. According to the data, the standard 50 m2 two-bedroom apartment in Moscow without special repair cost around 177,000 to 220,000 EUR, if the price per square meter is 3000-4000 euros.
For the same price you can buy in Riga two-bedroom apartment in a renovated building Residence Lumiére with an area 59 m2, fully finished. The project is located in the prestigious embassy district, surrounded by monuments of UNESCO and the Latvian Art Nouveau representative value of EUR 209000 and obtain a residence permit in the European Union, with all resultant bonuses.