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    This isn't a debate really, it's an academic question with a probably quite uncontroversial answer. Why is most of eastern europe stupidly cheap? Why don't prices adjust faster when there's so much economic activity. Why is russia an exception and actually more expensive than western europe? Surely there's not much differentiating say Russia and Latvia, economically?
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    (Original post by not)
    This isn't a debate really, it's an academic question with a probably quite uncontroversial answer. Why is most of eastern europe stupidly cheap? Why don't prices adjust faster when there's so much economic activity. Why is russia an exception and actually more expensive than western europe? Surely there's not much differentiating say Russia and Latvia, economically?
    Russia is not more expensive than western europe...depends how good you are at haggling :p:.
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    (Original post by not)
    This isn't a debate really, it's an academic question with a probably quite uncontroversial answer. Why is most of eastern europe stupidly cheap? Why don't prices adjust faster when there's so much economic activity. Why is russia an exception and actually more expensive than western europe? Surely there's not much differentiating say Russia and Latvia, economically?
    Because Russia has a vast amount of oil and gas, and given current prices of those commodities, this allows anyone working in those fields to earn a fortune. Furthermore, power in Russia is highly centralized, so St. Petersburg and Moscow get most of the resources and government attention. Only about 4-5 out of the nearly 90 Russian administrative zone have a nearly Western standard of living. The other ones are far, far behind.
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    depends on what part of Russia your in! go to magadan, i heards its cheap there!
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    Meh, its not that expensive. Only accomodation is high and only in Moscow because of a boom in property markets.

    Besides Moscow is huge, its the biggest city in Europe.
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    its not even more expensive..
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    If you think Russia is expensive, then go to Iceland. Iceland is FAR more expensive than Russia is.

    Only a handful of places in the whole of Russia could be classed as expensive. Most places will be exceptionally cheap because the standard of living is so low in many places. Ironic when you consider that almost 90 years ago Russia was meant to be transformed into a utopian paradise.
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    Are you planning to buy Russia? I'd start with a small island in the Caribbean, much warmer and nicer food!
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    (Original post by not)
    Why is most of eastern europe stupidly cheap? Why don't prices adjust faster when there's so much economic activity. Surely there's not much differentiating say Russia and Latvia, economically?

    What is " stupidly cheap" for british is not THAT cheap for a Latvian. The thing is that prices are adjusting - since we joined EU, everything has become more expensive and is still, as you would say, "adjusting". However, I would be glad that those were not prices that adjusted but the salaries (min.wage is 90 pounds per month right now) . Of course, Latvia`s economy seems to be the fastest growing economy in EU but we will have a big problem with the indebtedness in the future as really many are taking consumption (not investment) loans although they are not 100% sure how they will pay them back. Also the prices of properties have been and still are unadequately high. So - why? Well, we still need to cach up part of those 50 years we were occupied by Soviet Union.
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    (Original post by Segat1)
    Are you planning to buy Russia? I'd start with a small island in the Caribbean, much warmer and nicer food!
    :five:
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    I've just come back from St. Petersburg, and that was as cheap as anything. In fact, by using pounds sterling, I once ended up getting something CHEAPER than if I had paid by roubles!
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    (Original post by DrNick2006)
    In fact, by using pounds sterling, I once ended up getting something CHEAPER than if I had paid by roubles!
    Foreign currency, esp one that is of a high exchange rate, is more often that not, more welcome to locals.:cool:
 
 
 
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