Another Perspective: Chechnya Real Estate Booming
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Here is another perspective on real estate and how it is always local. Chechnya has been in the news over the past decade as terror attacks and civil war have plagued the country. We see and hear about the horror on the news but forget that their are still people there.
Now that the worst of the hostilities are over, housing is picking up, investments are coming in, and experts are worried that the market is overheated.
It took several years for Russia’s Interior Ministry and the Chechen police to stop the violence and to provide security. When the war came to an end, the priorities changed. Now billions of rubles are being spent on reconstruction.
If just a few years ago the streets of Grozny looked like a war zone, considerable changes are now visible everywhere. There are dozens of new shops, restaurants and renovated apartment buildings. From the very centre of the city to the outskirts, Grozny looks like an average Russian town.
Small businesses and large retail outlets are returning to the republic, and construction companies offer anything - from simple flats to luxury housing. For example, some apartments in central Grozny cost up to $ US 170, 000. RussiaToday
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