– When we talk about roi in the ground, how do promising investments in the suburbs? Can they be compared with investments into the Moscow earth? – If we're talking about investments just as the investment, without understanding that the investor, buying land, planning its development and respectively, the extraction yield from the very fact of development, it is unlikely that such investments could be in excess of yield, but the income is strong enough excess of inflation, they certainly bring. On the other hand, such investments makes sense to do for large companies that have large long-term money – from companies such as pension funds, insurance companies, because they have to say that the purchase of land in principle – it is a good opportunity and a very good way to improve capitalization and balance sheet and record statements of the company, which conducts the transaction. – What kind of rate of return can say, rate of return? – On average, at the long horizon planning, you can talk about the profitability of the order of 25% per annum (plus or minus). This, again, if we are talking simply about buying the land without any improvements. – Predict whether you will throw the market a large amount of land? – In fact it is already now happening.
– What happens to prices, prices stable? Can we expect a price reduction in connection with this? – If we talk about price cuts, then most likely it will decrease due (unless of course it will, though not convinced of this, more Therefore I am convinced that reducing not absolute, not relative terms will not be) with some features of the property market as such. This will be one of the elements, or may be one of the consequences of a theory possible global crisis, which now we all have one way or another in various ways, talking since August. If we talk about how to affect the market probably come back here already realizing sale of all land arrays, it is unlikely that this will have a downward pressure on the market. Why? Because sites suitable real it's not that fast, but at some foreseeable future, development will not require unimaginable Well, perhaps their investments may be 10-12% of the entire array of purchased parts. And these sites, I mean suitable sites for development, they are quickly and fairly easily absorbed by the market without causing even a hint of some decline.