Russians Snap Up New Homes Built on Ukraine 'Graveyard'
Russia is constructing high-rises in the occupied Ukrainian city of Mariupol, on the sites of buildings it destroyed.
Russian construction firm Su-2007 is rapidly constructing apartment complexes on the sites of buildings destroyed in the conflict between Russia and Ukraine. These new developments, known collectively as the Leningradsky Kvartal, are being built in the Ukrainian port city of Mariupol. Many of those who previously lived in Mariupol have been priced out of their homes, with property prices in the new apartment blocks reaching up to 10 million rubles.
The Russian government is offering cheap mortgages to newcomers, with an annual interest rate of just 2%. However, the quality of the construction has been criticized as being poor, with many apartments being built to cut corners and still charging exorbitant prices. The new developments are primarily being bought by Russian security personnel, officials, and people working in military logistics, as well as individuals who simply wish to live by the sea but cannot afford the cost of Crimea or Sochi.
However, the majority of those who fled Mariupol due to the conflict do not plan to return, with the local population being pushed out of the city.
Written by urgent.news from Tempo.co English's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
