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In Russia, if you are born in Moscow and inherit a granny's flat¥, it gives you an enormous boost. You are free to choose any occupation and dabble in any kind
by thriftwy 3y ago
In Russia, if you are born in Moscow and inherit a granny's flat¥, it gives you an enormous boost. You are free to choose any occupation and dabble in any kind of weird lifestyles or rent it out and live abroad with very modest effort.
Meanwhile, if you did not inherit one and don't work in IT, expect to work hard and spend the majority of earnings on rent/mortgage.
This applies nontheless even if all of your ancestors were lower middle or working class.
¥ Which she got from the state basically just for being there.
- thejackgoode 3y agoWell, that's about to change for the midterm perspective, but that's also not good news for everyone, if you know what I mean
- thriftwy 3y agoI was hoping to buy an apartment from under some porrige fleeing from Russia as the war progressed, but apparently the Rouble-denominated¥ prices only shoot up. I bought the old one on very good terms at the height of Covid uncertainity, though. ¥ USD is considered to be too volatile to price property in it, so property prices are usually expressed in roubles
- Throw73849 3y agoThat is kind of outdated for Russia. Many new buildings, salaries increased. Rent is reasonable with cheap energy. And metro goes everywhere.
- thriftwy 3y agoProblem being, any wage growth in Moscow caused prices to appreciate, because real estate is most/only reliable vehiche for long term worth storage in middle class. If you have spare cash, you buy an apartment. Indeed, the great amount of constructions works to limit this effect.
- Throw73849 3y agoThey are not competing with global foreign investors. Look at property markets in postsoviet countries like Poland or Czechia. Russians can invest in foreign stock markets etc... It is not like in China or Korea. Price rise you see is normal growth.
- conductr 3y agoSame happens in US. Inheriting RE is a huge advantage. There’s been a huge influx to my home state for over a decade and, multiple reasons, but a common story I hear is they inherited a house in CA/NY or other Higher COL place. They come here and have driven up our COL.