The average cost of one square meter of housing in the Murmansk region

Location Roubles/m2 In $US at the current exchange rate of 62 roubles per $1US
Murmansk 37202 Just over $500/m2
Kola 37052 just over $500/m2
Apatity 21700 $350/m2
Kirovsk 21715 $350/m2
Monchegorsk 15000 just under $250/m2
Olenegorsk 17100 just under $400/m2
Severomorsk 35500 slightly over $500/m2
Revda 10609 $160/m2
Polarnye Zori 30000 under $500/m2
Molochny 35750 over $500/m2
Pushnoy 7895 slightly over $100/m2
Murmashi 31025 $500/m2

Source: www.b-port.com

Before you rush to invest consider that most real estate is in what a westerner will consider substandard, if not disaster condition, and the long-term rental market is not at all active. Still, some of the above locations lack sufficient hotel space, so there may be some promise if someone wants to set up a mini-hotel.

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