Property boom taking hold in former Olympics host city ...News

Russia Today - Economy
Property boom taking hold in former Olympics host city
source : Russia Today ( News ) () 46
Newly-built housing costs in Sochi have soared nearly 190% since 2020, industry data shows New home prices in Russia’s largest resort city, Sochi, have risen threefold in the three years to April 2023, driven by strong investor demand, Kommersant business daily has reported. Citing data by Nedvex Group, the outlet reports the average price for new real estate exceeded 445,000 rubles ($5,550) per square meter last month, compared to 154,600 rubles ($1,931) in April 2020, representing a 188% jump. Sochi, which hosted the 2014 Winter Olympics, recently beat out New York and London in a list of the world’s three citie

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