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    Average annual rent for small Moscow flat equivalent to price of new car

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    The average annual rent for a one-bedroom apartment in Moscow is equal to the price of a new car, research conducted by the Russian Incom Real Estate company said.

    The average annual rent for a one-bedroom apartment in Moscow is equal to the price of a new car, research conducted by the Russian Incom Real Estate company said.

    "Considering the current rate of inflation, the average annual takings on a one-bedroom apartment is 335,000 rubles ($11,000)," the study said. "This is enough to buy a new Russian, Asian or French car."

    The experts said the average rent paid for a one-bedroom apartment in the capital is 22,400 rubles ($740) a month.

    As in any other city, rent varies according to proximity to the centre, the condition of the apartment, and the area. The most expensive rents are in west, south-west and downtown Moscow.

    MOSCOW, July 26 (RIA Novosti)

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