November 30, 2025

A Pretty Penny to Park


A Pretty Penny to Park
A surprisingly good investment. The Russian Life files.

A new report by Russian state media outlet Izvestia reveals that prices on parking spaces are outpacing the prices on apartments.

Over the last year, apartment prices have risen 7-9%, while parking spaces have shot up 20%. New buyers of Russian apartments can expect their parking spaces to cost as much as one-sixth of their rent: on average, a million rubles, or $12,903, per year. Some large spots for nicer apartments in luxurious areas can go for as much as R25 million, or more than $322,000, a year.

Izvestia journalists write that several economic factors are at play that have caused a parking shortage. While there are laws and regulations that require a certain number of parking spots to be included when buildings are built, oftentimes not all spots are sold. Many residents choose not to purchase an expensive lot on top of an expensive apartment, so open spots are a pure loss to developers. To recoup, they raise prices on spots that are likely to be purchased, creating a vicious cycle.

Some context is helpful. In car-friendly America, the number of parking spaces per household can vary widely. Des Moines, Iowa, has a whopping 20 parking spaces per household. In urban public transit haven New York, there are a mere 0.6 parking spaces her household. On average, there about 1.1 parking spaces are added with each new residential construction in the U.S.

In Russia, even smaller cities sit at 0.39 spaces per household, while larger cities have only 0.33. New apartment blocks often have only between 0.2 or 0.3 spaces per apartment. Hence why some Russian banks even offer loans to help customers pay for parking spots.

All of this against a backdrop of economic uncertainty and a grinding war economy.

You Might Also Like

An Ode to the Hovercraft
  • February 14, 2021

An Ode to the Hovercraft

Russia is a land of many mysteries. The greatest of all, of course, is this: What's the deal with Russians and their hovercraft?
Good Parking Spots Are Worth It
  • February 21, 2022

Good Parking Spots Are Worth It

Russian bank VTB is set to begin offering customers loans to cover parking spaces and closets, which seem like sound financial decisions.
A Real Hot Rod
  • August 11, 2021

A Real Hot Rod

Who needs headlights when you have flamethrowers instead? This Russian mechanic decided to find out. 
Like this post? Get a weekly email digest + member-only deals

Some of our Books

Fish
February 01, 2010

Fish

This mesmerizing novel from one of Russia’s most important modern authors traces the life journey of a selfless Russian everywoman. In the wake of the Soviet breakup, inexorable forces drag Vera across the breadth of the Russian empire. Facing a relentless onslaught of human and social trials, she swims against the current of life, countering adversity and pain with compassion and hope, in many ways personifying Mother Russia’s torment and resilience amid the Soviet disintegration.

A Taste of Russia
November 01, 2012

A Taste of Russia

The definitive modern cookbook on Russian cuisine has been totally updated and redesigned in a 30th Anniversary Edition. Layering superbly researched recipes with informative essays on the dishes' rich historical and cultural context, A Taste of Russia includes over 200 recipes on everything from borshch to blini, from Salmon Coulibiac to Beef Stew with Rum, from Marinated Mushrooms to Walnut-honey Filled Pies. A Taste of Russia shows off the best that Russian cooking has to offer. Full of great quotes from Russian literature about Russian food and designed in a convenient wide format that stays open during use.

Bears in the Caviar
May 01, 2015

Bears in the Caviar

Bears in the Caviar is a hilarious and insightful memoir by a diplomat who was “present at the creation” of US-Soviet relations. Charles Thayer headed off to Russia in 1933, calculating that if he could just learn Russian and be on the spot when the US and USSR established relations, he could make himself indispensable and start a career in the foreign service. Remarkably, he pulled it of.

Survival Russian
February 01, 2009

Survival Russian

Survival Russian is an intensely practical guide to conversational, colloquial and culture-rich Russian. It uses humor, current events and thematically-driven essays to deepen readers’ understanding of Russian language and culture. This enlarged Second Edition of Survival Russian includes over 90 essays and illuminates over 2000 invaluable Russian phrases and words.

Murder at the Dacha
July 01, 2013

Murder at the Dacha

Senior Lieutenant Pavel Matyushkin has a problem. Several, actually. Not the least of them is the fact that a powerful Soviet boss has been murdered, and Matyushkin's surly commander has given him an unreasonably short time frame to close the case.

Driving Down Russia's Spine
June 01, 2016

Driving Down Russia's Spine

The story of the epic Spine of Russia trip, intertwining fascinating subject profiles with digressions into historical and cultural themes relevant to understanding modern Russia. 

Davai! The Russians and Their Vodka
November 01, 2012

Davai! The Russians and Their Vodka

In this comprehensive, quixotic and addictive book, Edwin Trommelen explores all facets of the Russian obsession with vodka. Peering chiefly through the lenses of history and literature, Trommelen offers up an appropriately complex, rich and bittersweet portrait, based on great respect for Russian culture.

Faith & Humor
December 01, 2011

Faith & Humor

A book that dares to explore the humanity of priests and pilgrims, saints and sinners, Faith & Humor has been both a runaway bestseller in Russia and the focus of heated controversy – as often happens when a thoughtful writer takes on sacred cows. The stories, aphorisms, anecdotes, dialogues and adventures in this volume comprise an encyclopedia of modern Russian Orthodoxy, and thereby of Russian life.

The Latchkey Murders
July 01, 2015

The Latchkey Murders

Senior Lieutenant Pavel Matyushkin is back on the case in this prequel to the popular mystery Murder at the Dacha, in which a serial killer is on the loose in Khrushchev’s Moscow...

Russian Rules
November 16, 2011

Russian Rules

From the shores of the White Sea to Moscow and the Northern Caucasus, Russian Rules is a high-speed thriller based on actual events, terrifying possibilities, and some really stupid decisions.

About Us

Russian Life is a publication of a 30-year-young, award-winning publishing house that creates a bimonthly magazine, books, maps, and other products for Russophiles the world over.

Latest Posts

Our Contacts

Russian Life
73 Main Street, Suite 402
Montpelier VT 05602

802-223-4955