Experts: Sochi real estate is meant for millionaires

On April 19 Sochi hosted the press conference on the perspectives of further exploitation of real estate objects, built on the wave of preparation for the Olympics, Sochi-24 informs.

According to the experts present, in addition to sports venues, the most active growth in Sochi is shown by residential and hotel real estate segments.

The General Manager of MACON Realty Group consulting company believes that the market shows a considerable warp towards lux-class real estate objects. According to the company, the total balance of flats and apartments will reach 14567 by summer 2014. At that, company’s analysts believe the major part of deals will be made in the deficit niche – with the purchase budget of up to 6 million rubles.

Alexander Samodurov, VP of the international NAI Becar company, forecasts that after the end of the Olympics many new projects in the hotel business will require certain re-formatting – into apartments, which will have higher demand by the market.

According to experts, a potential solution for problems of this market may include the establishment of a gambling zone at the Sochi territory, despite the fact that authorities have not considered this possibility yet.

English translation by BSN