Real Estate Monitor.pdf

Demand fell by 30 percent to 40 percent on average in St. Petersburg's elite segment in 2009, but as in Moscow levels vary greatly among different developers.

Rental prices for top-end luxury properties outside Moscow have remained mostly static in 2009, realtors said, capped at about $70,000. In 2007, some extreme rates were as high as $100,000 per month.