A Moscow resident on an average salary would need to squirrel away all of his income for at least 10 years — not even buying food — to purchase a one-room apartment in the city, real estate analysts Inkom said in a statement.
Inkom said the average cost of buying a second-hand property in Moscow is 186,000 rubles ($5,440) per square meter; The average cost of a studio apartment in Moscow is 182,000 rubles ($5,300) per square meter, whereas a property with four or more rooms will set a buyer back 293,000 rubles ($8,570) for each square meter.
According to the State Statistics Service, the average monthly salary in Moscow is 54,672 rubles ($1,600) and that consumers spend 38.6 percent of their pay on nonfood products. Crunching the figures, it would take the average Muscovite no less than 27 years to purchase a 38 square meter, one-room apartment.
A doctor earning the average salary for his profession — 70,358 rubles ($2,000) per month — could afford a studio apartment in 21 years, but a nurse earning 30,000 rubles ($880) per month will have enough money to buy one after 50 years.
Specialists working in the petroleum industry on an average salary of 192,174 rubles ($5,600) a month could buy a studio apartment after eight years, subject to changes in inflation.
A Message from The Moscow Times:
Dear readers,
We are facing unprecedented challenges. Russia's Prosecutor General's Office has designated The Moscow Times as an "undesirable" organization, criminalizing our work and putting our staff at risk of prosecution. This follows our earlier unjust labeling as a "foreign agent."
These actions are direct attempts to silence independent journalism in Russia. The authorities claim our work "discredits the decisions of the Russian leadership." We see things differently: we strive to provide accurate, unbiased reporting on Russia.
We, the journalists of The Moscow Times, refuse to be silenced. But to continue our work, we need your help.
Your support, no matter how small, makes a world of difference. If you can, please support us monthly starting from just $2. It's quick to set up, and every contribution makes a significant impact.
By supporting The Moscow Times, you're defending open, independent journalism in the face of repression. Thank you for standing with us.
Remind me later.
