According to the estimates of the consulting company Knight Frank, in Moscow elite apartments on the primary market are sold at an average price of 1.2 million rubles per square meter, while in Sochi - for 1.57 million rubles.
"Elite real estate in Sochi has jumped in price due to the limited supply at the resort. If in Moscow 1,600 apartments are sold in elite houses, then in Sochi there are only 200 apartments," experts say.
It is noted that elite apartments in Sochi are bought mainly by residents of Moscow, St. Petersburg and the northern regions of Russia.
"Outside of Sochi and Moscow, such high prices are not observed in any other city in Russia," said Olga Shirokova, director of the consulting and analytics department at Knight Frank.
Compared to St. Petersburg, prices for elite apartments in Sochi were almost 3.5 times higher than in Kaliningrad - the difference is already more than 10 times.
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