Ok, I’m learning. But it looks like I’m on to something.
The RBC web-site states that more than 4,000 real estate agencies were closed in Russia over the past year.
There are good reasons for that. Many parts of real estate service are becoming more automated, making some realtors go the way of the farmer during the Industrial Revolution. And construction seems to be continuing at a fervent pace, even as average income seems to be holding steady at best.
I somehow became excited about the idea of so many agencies closing. Not that I wish my competition any ill will (really!), but the idea of a real challenge somehow energizes me more than any low-hanging fruit that just anyone could pick.
This humble blogger’s real estate agency, Expat Flat, has focused mainly on providing rental options for those foreigners who are moving to Moscow for work for a couple of years. And as we continue this service, we have also begun to think about sales.
You see, my prediction is that as real estate prices fall, property investment will become more attractive to international investors.
But how to attract international investors? Well, we decided to do what no one else is doing, and start a Russian real estate video blog, in English, entitled “How Much Does It Cost?”
There are quite a few really good Russian real estate video blogs… in Russian. But as far as I know, this is the first Russian real estate video blog in English. We aim to make Russian real estate available to the world.
Here is the first episode, highlighting some offices right across the street from the Kremlin:
After putting the video out on YouTube and also the Facebook page, it was cool to get strong positive feedback both from Russia and a few places around the world.
We already have a few more spots lined up for future episodes that we are beyond excited about, but for those of you back home, I have a question. What kinds of places would you be interested in having highlighted in such a video in the future? Please comment and let me know.
We would love to show you around Russia, and maybe you will begin to not just enjoy the entertainment value of such a video, but also begin to see the opportunity for investment.