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House prices in Russia are still falling
- In Moscow, the price index for resale apartments fell by 2.64% during the year to Q2 2017. Inflation-adjusted apartment prices was down by 6.56% y-o-y.
- In St. Petersburg, resale apartment prices slightly dropped by 0.62% y-o-y to Q2 2017 - a 4.62% decline when adjusted for inflation.
"Last year the economic situation was worse, the value of the rouble was lower, the price of oil was lower and GDP was worse," said a global adviser surveyed by PricewaterhouseCoopers (PwC) in Emerging Trends in Real Estate 2017.
The rental income of foreign legal entities without a permanent establishment in Russia is subject to withholding tax, levied on gross rentals at 20%.
Effective Tax Rate on Rental Income
Capital Gains: Capital gainsrealized by nonresidents for selling Russian property are taxed at a flat rate of 20%.
Effective Tax Rate on Capital Gains
Inheritance:There are no inheritance taxes in Russia.Residents: Residents are taxed on their worldwide income at a flat rate of 13%.
- Rapid economic growth
- High costs yet moderate yields
- High rental income tax & VAT
- High transaction costs
- Pro-tenant rental market
- Several ownership issues
* lawyers' and notaries' fees
OCTOBER 2017
- Russia's housing market is still falling - Investment Property News
FEBRUARY 2015
- International property markets see fewer Russian buyers - Investment Property News
- Moscow government to expand the city - GPG News Team
- What and where the Russians are buying - Marium Raja
JANUARY 2011
- Cheaper flats sell in Moscow amid high land prices and frozen building projects - GPG News Team
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