Early birds taking their pick of the commercial properties

Western European investors should look beyond the political risks of the Yukos affair, as Russia offers excellent opportunities, particularly in real estate.
Helped by both political stability and economic growth, Russia has been something of an investors’ heaven over the last year. But it remains important for investors to apply correct risk management filters.
On the political side, President Vladimir Putin introduced much-needed law and order, centralising power in the hands of federal authorities, reforming the legal system and bureaucracy.
Structural reforms are underway, with more emphasis on boosting competition and creating a better climate for foreign investors. The state is also introducing more transparent legislation and taxation systems.
Parliamentary and presidential elections in the coming winter and spring are not expected to bring many changes to Mr Putin’s vision, though foreign investors are likely to wait until a new government has been formed.