Moscow 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.
Europe may have lagged behind the US during the recent credit crisis, but they have caught up now and the effects are starting to be felt in the property markets. For the first time in many years, estate agents are closing their doors and the windows of the remaining agents are littered with hastily dropped prices. Property price movements in France usually lag behind the UK movements and this downturn is no exception.