Property News · August 22, 2017

Moscow's new high-rise housing plan casts shadow over local developers


Moscow’s local government project to build hundreds of thousands of new homes threatens to cause a supply glut, forcing private sector developers to cut back on their own projects and depressing apartment prices, real estate analysts and experts say.
The authorities in Moscow intend to re-house over 1 million citizens living in decrepit Soviet-era apartments, which they plan to demolish, in new high-rise blocks of flats as part of a 15-year programme.
But officials have said some of the…

Source : South China Morning Post
Read more…Moscow’s new high-rise housing plan casts shadow over local developers

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