The old-school glamour of Zamoskvorechye. The Moscow News. July 26, 2010.
The Zamoskvorechye neighbourhood is a mix of antiquity and modernity. Steeped in tsarist history, Zamoskvorechye also retains the patina of old-school, Stalinist glamour with its imposing facades and embankments. Despite its dramatic architecture, most of Zamoskvorechye is fairly quiet, with many of its streets providing a kind of «eye of the storm»-like atmosphere in the heart of Moscow.
Lush life in Khamovniki. The Moscow News. July 5, 2010.
Welcome to Khamovniki, one of the oldest districts in the city centre, known as the diamond on the Garden Ring of Moscow. This neighbourhood combines the best of both worlds: a distinguished history and a lively present.
Lotte Hotel brings focus on luxury. The Moscow News. June 26, 2010.
The Lotte Hotel Moscow on Novinsky Boulevard, which recently opened its doors in the heart of the city, is likely to be a successful project that highlights, yet again, how construction of luxurious hotels remains more attractive to developers than that of mid-range hotels.
(…) Also real estate companies know how to make life of Italian investors overseas easier. In New York there is a possibility to obtain a comprehensive service through some real estate companies such as Halstead, Domus Realty and Evans Real Estate that provide their clients with Property management services. “Our clients’ correspondence gets straight to us. We pay all their bills including property taxes, find reliable tenants and collect monthly rental payments so that our clients have nothing to worry about’’, explains Marco Martini who has been for several years working for Evans Real Estate, a Russian real estate investment company, assisting the relationship between the firm and the Italian investors. He and all others working in this field are busy in this dynamic market...
A Tale Of Two Cities. The Moscow Times Real Estate Catalogue. October 2009. By Anya Levitov, Managing Partner, Evans Property Services
The Moscow and New York real estate markets showed remarkable similarities both in the way real estate prices reacted to the financial crisis and the timing of the events. This is surprising, considering how different these markets’ macroeconomic environments are. While the fundamentals behind the recovery that both markets are currently seeing are different, it is interesting to compare and contrast real estate developments in these changing property markets.
For Sale in ... Moscow. The New York Times. Great homes and destinations. May 20, 2009
This 915-square-foot two-bedroom flat is on the top floor of an eight-story brick building that dates to 1910. During the Soviet era, it served as a “communal apartment” — a home occupied by multiple families, each living in one room and sharing a kitchen. In 2007, the flat was gutted and renovated, and now has modern amenities like air-conditioning, a washing machine and an intercom system.
Elevated Elite Expectations. Real Estate Quarterly #2, Tuesday, June 02, 2009
When we saw our results from the first quarter we had to ask ourselves, is there really a crisis?” said Galina Tkach. What surprised the director of IntermarkSavills’ leasing department was a trend she noticed when analyzing the changes in clients’ expectations since the beginning of the year. It appears that the estate agent’s clients are looking for larger apartments in more prestigious areas of the city.
Rental Rate Renegotiations. Real Estate Catalog - # 58 Tuesday, April 14, 2009
“The more expensive an apartment was, the more it lost in value,” said Anya Levitov, managing partner at Evans Property Services. “Budget options also went down in dollar-denominated rents, but often less than the ruble lost against the dollar,” she added.
The Mortgage Minefield. The Moscow Times. February 2009
When taking out a mortgage in Russia, it is hard not to think of the worst-case scenario — not being able to pay back the loan and losing the apartment to the bank. The economic crisis and decline in real estate prices have put additional strains on borrowers, making the worst-case scenario an imminent danger for many. This applies not only to those who have lost their jobs. Many of those who were considered "high quality borrowers" and have kept their jobs have seen their ruble-denominated salaries reduced by more than 30 percent by a combination of salary cuts and ruble devaluation. The situation is exacerbated by the fact that most mortgages were taken out in dollars or euros.
Current Trends and Patterns, Real Estate Catalog - #54, November, 2008
In today's uncertain environment, where economists and financial advisors have lost fortunes and credibility, many are afraid to make any decisions. Still, however complex, we should try to analyze the situation in order to protect assets and make investment decisions, as any crisis is also an exciting investment opportunity.
Why real estate prices are certain to fall: demand will dramatically decrease.
Investing in New York. The Moscow Times. April, 2008
Interestingly, New York, and Manhattan in particular, remained insulated from the US real estate price melt down. Hardly any one particular factor can be credited for it. Some experts say that the Manhattan market, with an average apartment price around $1.43 million as of the end of 2007, is a special segment, which is less affected by the slowdown in the economy...
The Big Apple is The Big Deal? Il Mondo. March 7, 2008.
In the recent months we have seen an exponential increase in the number of Italian nationals purchasing investment properties in Manhattan or Miami, with the intention to rent them out
New York a Bargain in Comparison to Moscow. The Moscow Times. February 12, 2008
Moscow is the most expensive city in the world for the second year in row. According to the yearly rating by Mercer Human Resource Consulting, Moscow is 34.4 percent more expensive than New York. How accurate is this rating?
City's Brokers Build Relationships in Europe. The New York Sun. November 15, 2007
With international buyers helping to buy the New York market and isolate it from the nationwide drop in prices, the city's real estate brokerage firms are joining international broker networks, exhibiting properties at property shows abroad, and advertising in publications in other countries to lure even more foreign money...In a reverse of American brokerages going abroad to lure buyers, some foreign firms are now opening offices here to offer better service to their clients. Last February, the Moscow-based Evans Group opened an office in SoHo. Many of the company's clients are Russian investors looking to diversify their holdings, and Evans is fielding as many as four new potential buyers a day. "Many foreign buyers want to take their millions and diversify their investment by buying real estate in New York," a managing partner at Evans Group, Karina Kheifetz, said. "We are very busy."
Anna Levitov and Karina Kheifetz: Professionalism is the reason for success. Salon Nedvizhimosti. October, 2007
EVANS PROPERTY SERVICES has been working on the real estate market for over fifteen years. Anya Levitov and Karina Kheifetz, Managing Partners of the company, speak about specifics of the Russian and the US real estate markets and why is it easier to make strategic decisions together. Evans Real Estate company was started by the efforts of two energetic women. Today, Evans's two offices employ over one hundred people. And the company itself is undoubtedly one of the leaders on the luxury real estate market offering services in luxury rentals, sales and real estate investments.
Know Thy Developer. The Moscow News. September, 2007
The Moscow government has apparently extended a helping hand in an attempt to quell public discontent over fraudulent real estate deals. On the other hand, this is a gesture of good will, which the authorities didn't necessarily have to make. EVANS Managing Partner Anya Levitova thinks that, despite the tragic situation these people have found themselves in, the issue is rather ambiguous. "We often hear about the victims, but we rarely hear about those who successfully made big profits from participating in investment projects,"she says. "They don't turn in their profits to help provide housing for those investors who were less successful, less attentive and less reasonable. It is not entirely clear why all should pay for someone's light-minded behavior." Levitova adds that the investors' irresponsibility and their lack of understanding of risks involved remain the major problems. In real estate markets abroad, construction loans are among the least available and the most expensive due to a host of problems that investors may encounter during the project's execution, such as the opposition of residents of nearby homes, mala fide builders, architects' mistakes, etc. "That is why apartments in the buildings that are being built should be cheaper than those that are finished, have the same quality and share the same location," she adds.
Moscow prices reached New York ones. Metro. New York. August, 2007
There are many Muscovites among Russian-speaking New Yorkers. Some, having sold their apartments, moved here permanently, while others, keep their double citizenship and continue to rent their Moscow apartments. There are also the ones who finally decide to sell their properties and to transfer money to the US or other country. It happens that many people turn to me for advice since I am the anchor of radio show “Amerika na ty” and the author of a book with same name. The question is always the same: how to sell a property in Moscow? Does one need an agent? How to transfer money from Russia? To ensure that the information is reliable, I turned to Karina Kheifetz at Evans and addressed her frequently asked questions.
«Fast-growing Moscow businesses hardly fits into the existing spaces in the historical centre of the city. As a result, rent charges grow fast, thus, increasing companies' expenses,» says Anna Levitova, the managing partner of Evans Property Services. Opportunities to create new commercial centers in the old part of the city are severely limited. Moreover, their construction would destroy the existing architectural ambiance and impose a huge burden on public transportation and street traffic. The idea to build a big contemporary business centre outside the historical centre, but rather close to it, is very reasonable. As opposed to reconstruction, new construction allows to take into consideration all standards of a contemporary business building. Besides, one more problem is addressed, i.e., redevelopment and rehabilitation of depressed city neighborhoods.
Cash speaks louder than action: During the purchase process in the russian capital Moscow, the necessary sum [of money] is deposited in a safe, like Anya Levitov, the founder of the russian reas estate company Evans says. Although she grants, that to the ears of foreign prospective customers "this can sound somewhat uncanny and unsafe", this procedure is safe, since the money is administered from a bank.
The current situation on the Moscow real estate market can be described as neither active nor slack. The trend toward stabilization that emerged last autumn, however, does not mean that the prices have come to a standstill. Within one week, they can increase by one percent but drop back again the next. For three years, there have been no such slight price fluctuations. Experts have noticed the following trend: low quality dwellings are becoming gradually cheaper, while the cost of expensive real estate continues to grow little by little.
Apartment Owners Wait Through Price Standstill. The Moscow News. July 17, 2007
"I would say that it is very difficult and has always been very difficult to rent without professional help. The pricier housing segment is very ‘civilized': proper agreements are signed, in most cases landlords pay full tax on rental income. Many companies like ours provide property management and other landlord and tenant support services," EVANS managing partner Anya Levitov told The Moscow News.
“In absence of an owner, a managing company can rent an apartment, thus, providing an owner with supplemental income,” says Anna Levitova. By your arrival an apartment will be prepared the way you like: the bar is filled with your favorite drinks, refrigerator - with produce, and a room will be decorated with your favorite flowers. It is enough for an owner to make a phone call and to express his or her wishes.
One of the youngest real estate markets in Russia (the first projects outside Moscow were launched in 1995), townhouse property has won fans here rather quickly. It is a specific market niche, which feeds on exorbitant residential property rates in Moscow itself, thus pushing residents out of town. However, this is not the only reason why a growing number of Muscovites consider moving to townhouses. "Average buyers are often younger families, who have or plan to have children and cannot afford a larger apartment in the city, children, moving out of the parents' home, non-Muscovites," says EVANS managing partner Anya Levitov. "In most cases the townhouse buyers are either first time property buyers or those trading up low quality panel housing for a townhouse."
Deferred Demand Slows Growth Down. The Moscow News. May, 2007
According to Anya Levitova, managing partner at EVANS, the hardest to sell is the economy-class housing. “Sellers still don’t want to lower prices, while buyers are not ready yet to pay $500,000 for 60 square meters in a plain brick building without specific advantages at a nice location,” explains Levitova. Confronted with the lack of demand, some sellers eventually withdraw their apartments from the market, opting to rent them instead. “The majority of these apartments had been either privatized or bought for cash, so keeping a flat isn’t expensive and can always be recouped through renting,” adds Levitova.
Karina Kheifetz and Anna Levitov on Radio "Vse". New York
Anna Levitov: We have been working with Moscow real estate for a very long time. Our business was started in 1991 and since then we have come a long way. Our company is one of the leading companies on the Moscow real estate market and we hope that our services will be helpful to New-Yorkers as well...
Beyond the City Limits. The Moscow News. 18–24 May, 2007
“The old Moscow tradition of spending summer at the dacha was never broken,” says Anya Levitova, managing partner at EVANS real estate agency. “It was always especially popular among families with small children and older couples, who can afford to spend the entire summer outside the city with rare commutes back for work.” ...
According to the calculations of Evans analysts, the suggested profit yield upon completion of the project will be 25% assuming that there is either no or a minor price increase, i.e., 12.5% per annum. If we wait till the end of construction planned for the end of 2008, then we will see whether we were right.
Residential Property. A Landlord’s Market. The Moscow News. 20–26 April, 2007
“The cheaper the apartment, the faster it rents. Cheap flats renting for up to $2,500 per month are gone within several days. If the asking price matches the market price, it takes a month or less to rent apartments up to $15,000. Pricier apartments costing more than $15,000 can be around for longer than a month,” says Evans Property Services managing partner Anya Levitova...
The unprecedented market growth slowed towards the end of 2006 and prices are forecast to stabilise or rise less steeply – by around 2% a month – during 2007. Evans is expecting a 20% average rise in prices this year...
Moscow Market on the Rise. The New York Times, February 14, 2007
Karina Kheifetz, one of Evans’s two managing partners:
The unsettled political and investment climate in Russia might decrease future demand for real estate in Moscow somewhat, but there would have to be a drastic change in supply and demand to bring the prices down significantly, Ms. Kheifetz wrote by e-mail from New York, where Evans has just opened an office in SoHo....
Russia: Can Privatization Preserve the Past? Dow Jones. Factiva January 9, 2007
Anya Levitov, managing partner at Evans Property Services in Moscow: "The government might be trying to save the effort and expense of maintaining the monuments, but privatization is not the only solution. Other viable alternatives could include hiring professional management companies who could maintain the monuments and generate income..."
Special Project: Broker of the Year. Salon Nedvizhimosti, January 2007
Popular Moscow real estate magazine Salon Nedvizhimosti has selected 20 best real estate brokers in 2006. We are proud to celebrate that six out of twenty were Evans brokers: Natasha Koroleva, Marina Andreeva, Svetlana Alieva, Irina Samsonova, Ivan Volk and Tatiana Johnson.
Real Estate Investments: Unlimited Resources. Salon Nedvizhimosti, November 2006
Anna Levitov ... advises to purchase properties in new developments that have been fully built but are still in the process of receiving ownership documents. Such projects have very small risk of construction delays since most of the work is done. Legal risk of such investments is also lower compared with early stage construction purchase - the city's building share has been determined, all the claims for land and other legalities have been clarified. At the same time many early stage investors start liquidating their properties at this time. An increased number of listings in same building results in a price decrease. Such properties appreciate 15-20% faster than the overall market during the year of completion.
Rating: "Best of the Best." Building. Life, November 2006
The November edition of Building Life focuses on Moscow’s rarest and most extraordinary type of real estate-- penthouses. We usually image penthouses to be “houses in the clouds;” however, in Moscow the concept is broader. Penthouses can simply be special buildings and designer top floor apartments. The higher up the penthouse is, the better; the views are more panoramic with their windows and terraces. Leading developers and realtors comment on the demand and prices of Moscow’s penthouses, including ones already existing and those under construction.
Anya Levitov, Managing Partner, Evans:
...Depending on the apartment location, the rental price may vary from $2,000 dollars per month for a studio or a small one bedroom apartment to $25,000 dollars per month for an 250 square meter apartment in the center of Moscow or in a luxury development outside of the center...
"A Strong Contract Can Avert Rental Nightmares", Moscow Times, July 18th, 2006
"The longer and thicker the contract, the better," said Karina Kheifetz, a partner at Evans real estate agency. "Contracts are a form of negotiation. You can go after the landlord if he violates it." A standard contract should include the dates through which the agreement is in effect; the amount and dates of payment; and a description of the property, including the size, number of rooms and address. It is also useful to include the procedure under which the landlord may visit the property, full details of payment responsibilities for services such as an Internet connection, and terms of registration at that property. A typical security deposit is equal to one month's rent, with the understanding that it will be returned when the lease expires.
Is it profitable to invest in luxury real estate? Sobstvennik. July 31, 2006
Moscow real estate market offers buyers properties on the secondary market as well as new developments. Both segments are in high demand. However, real estate professionals prioritize them differently. This fact only proves the notion that classification of luxury real estate market is not an easy task. Anya Levitov, Managing Partner of Evans Property Services, believes that both segments are of equal interest to buyers: "Buyers who are searching for a primary residence for their family and who are looking to move in as quickly as possible will find secondary market more attractive. They can move into an apartment right away and the chances are that all their future neighbors will have completed renovations and will have moved in, too. However, those looking for investment properties or those who don't need to move immediately may find luxury new developments more attractive."
"Realtors Reveal Moscow's Best-Kept Secrets". Moscow Times, July 18th, 2006
Karina Kheifetz, Managing partner, Evans:
Chistiye Prudy is very much loved by expats, and especially the French, for its old Moscow charm, beautiful architecture, peace and quiet. However, for some strange reason, the area is still not so much appreciated by Muscovites. And this is reflected in its per meter price, which is lower than that on Tverskaya, Patriarch's Ponds and Kropotkinskaya. We believe that this will change, so we recommend investing in the area.
"Location, Location ... Inflation". Moscow Times, July 11, 2006
Karina Kheifetz, Managing partner, Evans: In spite of the fact that we listed Kropotkinskaya as one of the best areas in Moscow, we still believe it is overvalued. It is presumed to be the best and most desirable area, mainly due to the line of luxury construction between Ulitsa Ostozhenka and the Moscow River. Therefore, it is the most expensive. However, as wonderful as Ostozhenka is, it is not as green as Frunzenskaya, it is not as quiet and peaceful as Zamoskvorechye, and it doesn't have such good infrastructure or as many good restaurants and stores as Patriarch's Ponds. Therefore, we do believe that the prices are kept high mostly due to fashion, and fashion is short-lived.
"Experts Warn Expats Where Not to Rent". Moscow Times, July 4th, 2006
Karina Kheifetz, Managing partner, Evans:
Firstly, Taganskaya. Taganskaya Ploshchad is a worse version of Las Vegas, full of the neon lights of casinos and clubs. The traffic is always very busy there, and you lose a lot of time driving out of the area. Apart from several newly constructed complexes, the most common type of building in Taganskaya has low ceilings and small, box-like apartments.
"Experts Pick City's Best Suburbs". Moscow Times, June 27th, 2006
Karina Kheifetz, Managing partner of Evans:
There are several charming Moscow neighborhoods. If we had to choose three, we would name Patriarch's Ponds, of course, Arbat/Kropotkinskaya and Frunzenskaya. Why do we choose Patriarch's Ponds as No. 1? Firstly, because of its central and convenient location close to major roads such as Tverskaya Ulitsa, Novy Arbat, and the Boulevard and Garden Rings. And it is within walking distance of six metro stops.
But none of this would be enough if the area wasn't so full of charm, history, beautiful architecture and peace and quiet.
This is the only area in Moscow that deserves the name "neighborhood." Within a couple of blocks you will find plenty of grocery stores, a gourmet deli, bakery, many wonderful cafes and restaurants.
New reality: 10 million dollars for a house in Moscow suburbs. Sobstvennik. April 18, 2006
Karina Kheifetz points out that the rise of real estate demand during the last three months, athough to a smaller extend, did apply to the Moscow suburbs real estate market as well.
Managing Partner of Evans Property Services advises that there are several banks in Moscow that offer mortgage programs designed for luxury residential real estate for any amount based on creditor’s income. Furthermore, in special circumstances and with an existing relationship with the bank, one can get a mortgage above the official bank limits.
Who benefits from creation of new pedestrian areas in Moscow? Sobstvennik. March 27, 2006
"Pedestrian area planning is a state program, therefore there are no obstacles for creation of new pedestrian areas," - noted Dmitry Shultsev.
Anya Levitov, Managing Partner of Evans Property Services, disagrees. According to her, construction of such areas often results in destruction of architectural landmarks, including the ones protected by UNIESCO.
"Naughty" apartment or a million dollar problem. Sobstvennik. January 18, 2006
Anya Levitov, managing partner of Evans Property Services describes a sale of an inherited apartment, which fell through: property rights of a principal estate heir were challenged by a heir at law who was later joined by another relative of a deceased... In such cases real estate professionals recommend buyers to withdraw their offer in order to avoid possible problems and legal claims in the future as well as not to risk the firm's reputation.
Studio apartments are a rarity in modern developments. Besides, as the quality of the building and the neighborhood increases, the chances of finding a studio apartment in such a building diminishes. As Anya Levitov mentioned, people don’t buy rooms in luxury complexes, but rather square meters and then use them as they wish. Consequently, the size of smaller apartments here can be from 65 to 150 square meters.
Historic Properties Make Good Investment Sense, Moscow Times Real Estate Catalogue, December 2005
"Historic properties make good investment sense." by Karina Kheifetz, managing Partner of Evans Property Services. "Savvy real estate investors have uncovered a well-kept secrets - pre-Revolutionary buildings generate higher rental returns than sleek modern developments."
"Our Job is to choose the best." Any real estate agency can assist with buying or selling a property. It is a challenge, however, to find an agency that will consider all of our wishes and requirements.
"It's still a good time to buy because the market is still not fully developed. "But you need a good consultant working for you, because not every property or development is right - it is possible to lose money if you don't know what you are doing."
Moscow Times Real Estate Catalogue, September 2004
"Smooth Move" Moving into a new home should be a cause of celebration, but only if a deal is legally watertight, as managing partner of Evans Property Services, Karina Kheifetz explains.
"Fail-Safe Floor Space" Underpinned by a stable economy, high oil prices and dollar depreciation, Moscow's residential sale and rental markets are continuing to show strong growth. With the advent of more widely available mortgages, real estate is rapidly becoming the investment instrument of choice for many Russians.
How foreigners and Russians rent apartments/ Novii adres. June - July 2004
«It is a rare case when a foreigner takes a residence somewhere on Michurinskii prospect or Krilatskie Holmi, whereas a Russian person can always have a choice of apartments in these neighborhoods,» says Anna Levitova, managing partner at Evans.
"Landlords o the Rings." Moscow has a concentric value system: the cost of real estate increases in rings around the Kremlin - the closer the ring, the higher the value.
"Dizzy Heights: Moscow's real estate boom continues." Russo-British Chamber of Commerce Bulletin, January 2004
The last two years have witnessed an almost unprecedented boom in residential real estate prices in Moscow. For firms like Evans, a Moscow realtor firms specializing in residential real estate for the expatriate market, times are busy.
Evans Property Services wurde 1991 von einem amerikanischen Anleger gegründet und hat sich schnell eine führende Stellung in Russlands Immobilienmarkt erarbeitet. Evans befindet sich in westlichem Besitz und wird westlich geführt.
