Yekaterinburg to get 1m sq m worth of new housing in 2015

29 June 2015 (09:15)

UrBC, Yekaterinburg, June 29, 2015. Yekaterinburg Council expects some 1m square meters worth of new housing to be commissioned by the end of the year, Deputy Mayor for Strategic Planning Alexander Vysokinskiy said at a press conference on June 26.

‘Developers are trying to avoid construction stoppages, since stopping the process comes at a higher cost than resuming it does,’ he explained.

The official said sales were complicated on Yekaterinburg housing market at the moment, with government promising to back up only the new-home mortgages. Vysokinskiy stressed existing homes market needed similar support.

‘The idea is to help people improve their living conditions; so, if someone sold their studio apartment on the existing homes market and would like to buy a one-bedroom one on the same market, that counts as ‘improving one’s living conditions’ as well,’ he said.

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