The size of investments in the domestic real estate market grew 128 percent last year to reach almost 2.2 billion euros ($3.1 billion), as economic stabilization after the crisis encouraged foreign and local investors, a survey said Monday.
Although the overall transaction volume remained low compared with the pre-crisis level, Russia outperformed other countries in Central and Eastern Europe and mainstream investors are expected to return to the market in the future, CB Richard Ellis said in the report.
Russia saw a total of 27 deals last year, compared with 22 in 2009, with an average transaction volume accounting for 80 million euros, almost twice as much as in 2009.
According to the report, the stabilizing of the domestic economy, which grew 4 percent last year, resulted in increasing investors' confidence.
"The results of 2010 showed a significant increase in the investors' confidence of the stability of Russia's real estate market," said Christopher Peters, head of research at CBRE.
