Stanislav Zhukov, head of real estate finance and capital markets services at Ernst & Young, contributed this month’s topical essay. This column has traditionally focused on the valuation and appraisal of real estate assets, but our market operates with legal entities, and most income producing properties are transferred by the ...

City Hall is and has been the largest land owner in St. Petersburg; therefore, it is necessary, in the overwhelming majority of instances, to resolve the issue of allotting a land plot for construction with the city. When determining the cost of rights for municipal land in St. Petersburg, one ...

In the recent series of articles on appraisal reports – we have examined various appraisal standards and what are the minimum requirements are for any appraisal report. We considered the special minimum content for appraisers to use when providing clients and their auditors asset value estimates for use in financial ...

This month the ideas and requests of readers raise the issue of appraising office complexes with associated retail space. This comes about because of the high number of these type projects coming into our market, and because of the continuing problem of having few actual sales of such properties from ...

Law The basis of amounts of insurance for commercial real estate properties is established in Russian legislation as the actual value of the property at its location on the day the insurance agreement is concluded. In addition to this, legislation is clear that insurance amounts in excess of this value are ...

Last month in this column, we looked at the requirements of appraising for financial reporting purposes. We learned that the most important element of appraisal reports is the clear, market-based support that the appraiser provides for the value conclusions that he puts forth. This month we look a bit deeper ...

In the number of DIY stores, the St. Petersburg market is among the most saturated in Russia. More than 30 specialized chains with 150 housewares markets and 30 hypermarkets with home repair articles operate here. Nevertheless, growing personal incomes give hope to retailers that, in the next 3-5 years, demand ...