Russian oligarchs are ‘depressed’ because nobody wants to rent their fancy homes

2023-01-23

Russian oligarchs and normally rich Russian people are in a “deep depression” because they are unable to sell or rent their huge mansions and fancy apartments.

Since Russia first invaded Ukraine, the country has been placed under sanctions by pretty much every country around the world – bar President Vladimir Putin's allies.

And it now appears the damage caused by those punishments is being felt by the richest in Russian society.

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During a bizarre analysis of the Russian housing market by pro-Putin Kremlin-loving news outlet Moskovskij Komsomolets, it emerged that even those who could afford to buy and sell most of the UK's entire housing market twice over are unable to sell their own fancy pads and giant mansions – and are having to do so at a knockdown price.

One bloke, called Viktor, has fallen foul of the issue.

He told MK: “We rented a good two-room apartment on Mosfilmovskaya Street for a year to the director of Mosfilm for a hundred thousand rubles.

“A year ago, it cost 135 thousand a month, and there was a line of people who wanted to take it off.”

And Alexei, who is described as being his “grandmother's heir”, failed at renting his “chic apartment” for the usual price of 65 thousand rubles (£756 per month) and was forced to settle for something closer to £400.

This, MK claims, has left the oligarchs and rich folk in “deep depression”.

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Moscow-born Russian political analyst Ilya Grashchenkov said: “The decrease in the cost of renting apartments is logical, because this year about two million people left Russia, who were the main tenants.

“IT girls, rich people went abroad.

“As a result, Muscovites have to resort to a more flexible policy, for example, to rent an apartment not to one person, but to several at once.

“It seems that in the near future it is not worth waiting for the return of a large number of people who will start filming again.

“And, rather, on the contrary, many will continue to leave.”

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