Prosecutor acts on runaway real estate
Published time: 14 Aug, 2006 06:19 Edited time: 14 Aug, 2006 10:19
The general prosecutor’s office ordered state anti-monopoly officials to investigate the legitimacy of soaring real estate prices. They will look into whether construction firms are operating a secret price-fixing agreement.
Since the start of the year, the cost of a new apartment has risen by 85 per cent in
Moscow and by 65 per cent in northern capital. Almost $3,000 dollars is the minimum price per square metre for a new apartment in Moscow. The anti-monopoly service says current legislation makes it almost impossible to prove price fixing. St. Petersburg, Russia