While they're bulldozing constructivist housing in Moscow, Russians are buying up London real estate. The Washington Post recently wrote about "Moscow on the Thames:"
New Retreat for the Russian Rich: London
Wealthiest Flooding 'Moscow on the Thames' With Cash
LONDON -- Russian billionaires, and mere megamillionaires, are
dropping tens of millions of dollars for the most opulent houses in
town. Jewelry stores and outrageously expensive boutiques are hiring
Russian-speaking staff. And purveyors of everything from Bentleys to
Beluga caviar are happily riding this wave of Russian affluence in a
city some are starting to call "Moscow on the Thames."
Many
trace the phenomenon to the day in 2003 when Roman Abramovich, a
Russian oil tycoon in his mid-thirties, bought the Chelsea soccer club
for $225 million, then paid out hundreds of millions more to assemble a
star-studded juggernaut that won the English championship for the first
time in 50 years. The British were agog at the cascade of Russian cash
that turned humble Chelsea into mighty Chelski.
Looking back, from the Guardian:
Russians top property ladder in Moscow on Thames
Nick Paton Walsh in Moscow and Rebecca Allison
Friday March 19, 2004
In
certain circles it is no longer cool to call London by its real name.
An influx of Russian billionaires with a penchant for the capital's
most exclusive postcodes has earned the city a new label - Moscow on
Thames.
One in
15 properties sold at the top end of the London property market last
year was bought by a Russian, according to estate agents Knight Frank.
The
company also says that one in 15 properties costing more than £500,000
was bought by Russians in 2003, and they were behind a third of
purchases in London by foreign citizens....
The trend was begun by
Boris Berezovsky, who moved to London in 2001 when he fell out with
President Vladimir Putin. Mr Berezovsky has a £10m house in Chelsea, a
flat in Belgravia, a house on the Wentworth estate in Surrey and
recently bought Hascombe Court estate for £10m from the DJ Chris Evans.
And the Telegraph did its bit:
Moscow on the Thames
(Filed: 28/02/2004)
As their homeland descends into political turmoil, rich Russians are
heading for Britain and proving a force at the top of the property
market, reports Graham Norwood
In non-millionnaire Russian/London news:
Russian art's young rebels free to shock
Russian art is most often
associated with the Socialist Realist propaganda images of heroic
workers brandishing sickles. In fact, the former Soviet Union is home
to a flourishing contemporary art scene, which is more rebellious than
anything dreamt up by the Young British Artists.
Now
a whole series of exhibitions is set to bring British audiences up to
date. 'Moscow Breakthrough: New Russian Internationalism' is an
exhibition of 20 of Russia's leading contemporary artists and opens on
Tuesday at the Oxo Tower on London's South Bank.