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Expatriate Health Insurance News: Expats take 60% of high end rentals in St Petersburg

Expatriates took up 60 per cent of the high end rentals on the market in St Petersburg in April this year, it has been found.

According to a study carried out by Penny Plane Realty, high profile properties with rents above $2,000 (£1,263) a month are proving popular with expats.

The stake taken by this demographic was 15 percentage points less during the same period a year earlier, meaning that more expats can afford to live in such accommodation, reports the Moscow News.

This may have something to do with the fact that the research also found that the budgets allocated by international companies for their employees' lodgings has gone up by 20 per cent.

Pavel Pikalyov, director of Penny Lane Realty, said: "This is due to stable development and overall increase of foreign manufacturers’ presence in St Petersburg."

The Committee for Investment and Strategic Projects has said that investment by businesspeople in St Petersburg's local economy has gone up threefold in the past five years.

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