For retirees, moving to Sochi, which has become the most popular city for living in old age, becomes a difficult task due to high housing prices. This was reported by Moscow 24, citing statements by Doctor of Economics, Professor at the Financial University under the Government of the Russian Federation Alexandra Safonova.

Safonov emphasized that high real estate costs make moving to Sochi almost unaffordable for an ordinary pensioner, which is why most Russian citizens choose Stavropol or Krasnodar. The expert also added that Moscow residents rarely decide to live permanently in the south of the country.

“Those who can afford it can visit resort towns once a year; they do not have to live there permanently. In Moscow, the quality of life is higher in terms of healthcare, cultural life, and leisure,” Safonov explained. He also noted that moving in old age may cause everyday problems due to the loss of familiar surroundings.

The expert recommends that Russians who are planning to move after retirement reduce current expenses, make long-term investments and save money in advance