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Many designer brands in ~Russia are overpriced, because people live in flats and cannot really invest in property, so the culture is to invest in clothes and looking cool. A woman there will first buy a good mink fur coat, only after that - a car (nightmare to drive in winter!). So retailers take advantage.
Isn't a flat technically a property as well?
^ maybe they are less than single family homes? Just a guess, although a lot of people also have dachas I think?
It is, of course, but unless you are an abramovich type, you would not be able to invest in a luxury one, (the cost is insane) and a normal one would be in a very average house... not an investment as such, just to live. There are no big flats (except lux), a standard one is a three roomed flat about 80square m...
Better to buy luxury clothes...and a birkin. There in Moscow.