Moscow and St. Petersburg are among five of the fastest growing property markets in the world, according to consultants Knight Frank.
The average prime residential prices have risen by 35% in Moscow, totalling around $US 2000 per square foot. In St. Petersburg, Russia’s second largest city, prices have increased by 38%. The world's most expensive place to buy a home is London, with the average price for top city centre locations at around $US 6000 per square foot. London is followed by Monaco and the south of France – both locations which are attractive as a place for second homes on the Mediterranean.