Economic Insights

Where does live Vladimir Putin?

(Possibly) in Rublievo, exclusive residential area on the outskirts of Moscow.

Abel Amón. 09/04/2015
Vivienda a la venta en Rublievo
Vladimir Putin
Vladimir Putin

When we refer to the number 10 Downling St, the White House, the Palace of Moncloa … we talk about dwellings occupied by top leaders of their countries. But, what is the address of Vladimir Putin?. The Russian president lives ultimate luxury area on the outskirts of Moscow called Rublievo. The residents of this prestigious area are accustomed to continuous security checks given its proximity to their  president. Controls that suffered Sergio Scariolo, basketball coach, former (and future?) Spanish National coach, and among other teams  in  Khimki Moscow.

Attached is a video in which Scariolo tells his experiences in the Russian capital.

The secrecy around Putin goes further. For example, it is not officially known who his wife/girlfriend is, once he was divorced of his wife, Ludmila, a few years ago. Such secrecy allowed him to be 10 days away from any official agenda, dates just after the murder of  democratic political and  opponent, Boris Nemtsov,  and in the middle of Ukrainian crisis. After being gone a few days, he returned triumphantly to celebrate the anniversary of the Russian annexation of Crimea. We do not know if the rumors are true that just had a son with Alina Kabaeva, a former athlete that has been linked to, or if the motive was political due to the challenge provoked by the unexpected death of  Nemtsov.

Returning to Rublievo area, we saw a few months ago as Sotheby International Realty offered an exclusive house available to very few. 2300 m2, 97 ha of ground area, the best materials with marble, gold, best woods and stones… The sell price was $ 100 million. Attached is an overview of the main stays of such mansion. It’s not the most expensive of those offered in the same area, there are some whose price exceeds 200 million, but non-public offering of it, because, many times, these transactions are conducted with the utmost confidentiality.

Vivienda a la venta en Rublievo
House for sell in Rublievo

The ruble crisis and the sanctions imposed by the US and EU are affecting the residential market, so that even in the prestigious region Rublievo it was possible  to purchase homes at a a more affordable price, although of course other types of houses. How we have already discussed in the case of luxury vehicles, many Russians reacted to the collapse of the ruble and had  little confidence on the  banking system of the country to withdraw their savings from the bank (or under the mattress) to purchase goods roots to relieve the then unstoppable decline of the national currency.

How did the Russian crisis affected the real estate markets beyond its borders?. Negatively. One of the preferred markets for Russian is undoubtedly the Spanish coast where hundreds of Russians have purchased homes of all sizes and budgets. Now, that it seems the price of  holiday homes has bottomed in Spain, wages of Russians have been devalued in Euro terms ,while interest rates have skyrocketed in Russia,  hindering residential investment.

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Disclosure: The author is not responsible for the views expressed in the article. The text has been written freely expressing ideas, without receiving any compensation. The author has no business relationship with any of the companies whose shares are listed in this article.

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