Russian Edmonton Real Estate

I often hear a question: Is Russia a cheap or expensive country to visit?
Honestly, I do not know what to say. It could be both. Just a few years ago
Moscow it was at the top of the list of the most expensive cities in the world.
After the financial crisis of 1998 the situation changed, most of the businesses
realised that they should work for middle class, but still Moscow is expensive
for some things.

The most expensive is accommodation, you can get a decent luxury hotel room
for not less than $350, while 3-star hotels offer their rooms for $50-$100 a
night, and what you get is usually worse than what you expect for the money.
There are only a few budget accommodation options in Moscow: generally you can
get a crappy single for $20, and a crappy double for $30-$40. There are only
three hostels in Moscow, they offer a bed in a dorm room for $16 and higher.
Read more on accommodation below on this page.

The food is relatively cheap: if you cook yourself you’ll fit in 50-100R
($1.7-$3.5) a day, if you go to the restaurants only, expect to spend from 100
to 300 R ($3.5 – $10) a day – of course if you’re not up to the luxury stuff.

The transportation is very cheap: a ride on the metro is 5 R ($0.15), a bus,
a trolley, or a tram is 4 R ($0.13). A taxi will charge 50-200R ($1.7 – $7)
depending on your appearance and your ability to negotiate. You’ll have to pay
more than Russians to do sightseeing. Museums and famous sights charge about $3,
however there are some tricks, see in the appropriate sections of our site.

If you go partying, you can spend nothing or everything. Most of the clubs
don’t charge any entrance cover, however if you get to a concert expect to pay
$1-$10. A drink is usually about $1-$2. A meal is about $3-$4. There are some
‘high class’ clubs where you’ll have to leave about $30 to enter, and pay double
prices in the bars. Shopping is expensive, though there’s very much variety: all
the main fashion and casual wear brands are represented. The prices are about
20% higher than in Europe.

In short, expect to spend as much in Moscow as you would at any European city
and if you find yourself short of funds, here is an emergency tip: Call Western
Union at 797-2194 to find out the closest location or visit
www.westernunion.ru/eng/root.htm

Most business establishments accept the standard credit cards, Visa,
Mastercard, Amex, Discover, etc. The credit card company will usually provide
you with very favorable exchange rate. Using credit cards is always a safe bet!

Edmonton, October 2, 2012: The REALTORS® Association of Edmonton reports that residential listings and sales have trended lower in the third quarter after an active start to the year. In September, there were 1,269 residential sales in the greater Edmonton market as compared to 1,442 in September 2011. Despite the recent cooling trend, residential sales year-to-date are still up 7.2% as compared to last year at this time. There have been 14,565 residential sales to the end of the third quarter as compared to just 13,729 last year.

“There were changes to the mortgage qualification rules in March,” said REALTORS® Association of Edmonton President Doug Singleton. “We did not see an effect on the local market at that time but it seems to have had a cooling effect in the past quarter.”

The average1 price for a single family dwelling (SFD) has remained higher than last year for each of the past nine months. In September, the SFD average price of $376,678 was up just 0.23% from the previous year and is up 2.78% from the January 1 price. The all-residential average price is down 2.6% from last year at $323,369. This is the first month this year that the all-res price has dipped below the 2011 figure for the same month.

Condominium and duplex/rowhouse prices are more volatile and vary widely from month to month. In September average condo prices were down 3.1% ($229,246) while duplex/townhouse prices on average were up 2.75% ($307,739). Still, after nine months both current prices are up from the January 1, 2012 prices for the category.

Total MLS® System listings this year are up 104 units as compared to last year at 33,295 properties but Total MLS® System year-to-date sales are 16,487 units as compared to 15,378 at the end of the third quarter in 2011. There are 6,956 residential properties in the inventory compared to the 8,062 last year at this time. Rural and commercial property sales are both up marginally compared to last year although listings have dropped. The residential sales-to-listing ratio was down from 56.7% to 52.3% and residential days-on-market was up to 59 in September from 54 in August.

“Sales always fall month-to-month at the end of the year; that’s just normal market fluctuation,” said Singleton. “But overall, the market has been stable with little market advantage for either buyers or sellers. Edmonton is still one of the best places in North America to own property and I urge consumers to talk to their local REALTOR® when they are in a position to buy or sell property.”