Russia's real estate market recovers

"Today, the new supply of office space in Moscow is being steadily eaten up since despite the slower-than-expected growth, Russia's economy will still grow by at least 3.5 percent this year. Moreover Moscow Mayor Sergei Sobyanin has frozen all construction permits until a new strategy for the capital's development can be worked out; Stanaford says there will probably be no new office space coming onto the market until at least 2013. That will also push prices up."