Real Estate Prices Fall to 2007 Low

28 July 2009By Alex Anishyuk / Special to The Moscow TimesMoscow real estate prices continued a seemingly inexorable decline in July, breaking through the psychologically important level of $4,000 per square meter last week and continuing to sink lower, according to data compiled by a leading analytical company.

The average price of Moscow real estate on Monday was $3,930 per square meter, according to research portal IRN.ru. Last week, the average price was $3,957 per square meter, lower than the support level of $4,000 per square meter set two years ago.