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Apartments are a relatively new segment of the real estate market in Russia. Residential units which cannot be the basis of registration of residence are mainly oriented towards those people in the business area who maintain their principal residence elsewhere in Russia, or in another country.
The apartment segment started to develop in 2010, when Moscow obtained a new mayor. Since then, investment contracts covering a total of 9 million square meters of living space have been abrogated. The alternative was the construction of apartments. The residential market in this segment is especially attractive, because of its value. The cost per square meter of apartment space is 10 to 15 percent lower than the cost of other types of housing. The infrastructure of a single complex frequently allows one to live and work in the same building, and the presence of hotel services (room service, cleaning, conciergerie, security, etc.) facilitates the solution of problems.
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