Russia: Fairy tale ending or start of a nightmare?
Reforms are crucial to recovery
ALWAYS READ THE small print. It’s one of the cardinal rules of any successful investment strategy but seemingly one that was widely ignored when it came to the Russian real estate market. In the pre-credit-crunch period, investors snapped up billions of dollars-worth of stock in initial public offerings from the sector in the belief that demand and prices for real estate in Russia were heading in one direction only – to infinity and beyond.
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