Published on 03 April 2007 at 05:15 pm
Filed in Property News for Russia » Morgan Stanley Has Confidence in Property in Russia
The global financial services company Morgan Stanley has had a significant investment banking presence in Russia since the early 1990’s and it’s clear that their commitment to the nation is built on foundations of fundamental confidence…but recent developments undertaken by the corporation have shown that in addition, Morgan Stanley has confidence in property in Russia too.
The company’s Real Estate arm in the form of its Special Situations Fund is buying up shares and stakes in significant property development companies across Russia - and to facilitate its purchasing power further, Morgan Stanley recently announced that it would add around USD 1 billion to the purchase and investment fund. The fact that Morgan Stanley has confidence in property in Russia bodes incredibly positively for the entire Russian real estate industry and naturally raises the profile and the appeal of the nation among individual investors too.
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The real estate buying process in Russia is theoretically relatively straightforward because foreigners have the exact same rights when it comes to real estate in Russia as local Russians do.
But unfortunately there are so many legal subtleties and nuances in Russia that a property investor has to tread extremely carefully to avoid getting their fingers burned.
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As Russia develops so does its real estate sector and property economy and there is definite long term appeal for real estate investors considering Russia. The appeal lies in the future economic expansion of Russia and the majority of real estate investment potential is currently located in the major towns and cities in the west of the country.
In terms of the investment potential available in Russia it stems primarily from the residential letting market with secondary activity in the commercial property market.
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As Russia is the largest country in the world one might assume that it has the broadest range of real estate investment opportunities available for a purchaser, but the country is very distinctly divided between poverty and opulence, opportunity and risk.
The majority of opportunities currently exist in Moscow and St. Petersburg but as the country develops its market economy and expands its trading base, so more towns and cities receive the financial attention and infrastructure investment they deserve, and new micro emerging property markets appear.
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