No Soft Real Estate Market in Russia

Booming business and rising personal wealth mean that demand is up for all types of property. Top-quality office space in Moscow now rents for $95 a square foot—two-thirds higher than in Midtown Manhattan. That’s bad news for Moscow’s business tenants, but it’s a boon for real estate investors, who are seeing annual returns that top 10%, vs. 4% to 5% in Western Europe and the U.S.

http://www.businessweek.com/globalbiz/content/sep2006/gb20060928_654016.htm?chan=globalbiz_europe_today%27s+top+story