Living standards in Russia’s two biggest cities are slipping.
According to an Economist Intelligence Unit survey, Moscow and St. Petersburg have both seen their “liveability” rankings decline more than 3% in the past five years.
The survey ranked global cities based on stability, healthcare, culture & environment, education and infrastructure. The survey does not specify where the pair saw the greatest declines, but did note that “events in Ukraine” were having “knock-on” effects.
There’s other anecdotal evidence of the decline. According to Global Property Guide, Moscow´s resale apartment prices fell 8% in Q1 on an inflation-adjusted basis. In St. Petersburg they fell 4.6%. There was actually a surge in purchasing activity in the first half of 2014, but that was only because the Ruble had weakened, according to GPG. The Ruble has fallen 9% against the dollar in the past 12 months.
The rest of the list, above, all have been experiencing serious problems with unemployment, violence, civil unrest, and instability all around.
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