In the South China Sea, the PRC has executed an illegal island-building cam...
2021-04-20 2 ENGLISH REPORTS
Moscow has climbed to 18th in this year’s Index. Despite price rises in many areas, particularly flights, the city offers pockets of affordability: it is one of the cheapest cities in our index to buy a luxury car. The prime residential property market was affected by initial Covid-19 restrictions and transactions fell by a third in the first half of 2020. However, demand has remained stable and, buoyed by the growing wealth of many of the city’s entrepreneurs, prices climbed 9.9 per cent in RUB terms across 2020 as a whole, according to Knight Frank. The impact of higher prices on travellers, international investors, or those who hold USD is limited.
The rouble fell 17 per cent against the dollar in 2020, meaning that while prices are up 15 per cent in local currency, they are only up 2 per cent in dollar terms. Supported by significant investments in telecommunications, the city is building a reputation as a thriving tech start-up hub and was rated as one of the top 10 Best Startup Cities in 2020. Famous for its architecture, the Moscow Metro is one of the world’s densest transport systems, with an average of 9 million daily passengers. Upgrading the Metro is one of a slew of ambitious infrastructure improvement projects under way across the city. The plan is for the Metro to reach 90 per cent of Moscow’s residents and to increase both stations and capacity in order to transform the network into one of Europe’s most comprehensive.
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