The collapse of the ruble has led many Russians to invest in real estate and buy properties in order to protect the value of their finances. In March, this resulted in a 31% increase in the sale of existing apartments in Moscow compared to the previous month, according to the country’s land registry office. In addition, on the primary market including properties that are still under construction, offers to buy increased in March by about 13 percent compared to February. Maria Litinetskaya of the Metrium real estate company said many people fear that the fall of the ruble could trigger a rise in mortgage rates and so are anxious to to buy properties before this happens.
