Support The Moscow Times!

Government Pushes For Affordable Housing

Russia plans to build an additional 25 million square meters of affordable housing by 2017, costing no more than 30,000 rubles ($830) per square meter, said Construction, Housing and Utilities Minister Mikhail Men, Interfax reported.

Private companies will be responsible for construction expenses, but the government will provide land and compensation for infrastructure costs if a company builds at least 25,000 square meters of affordable housing. The builders may build additional housing if any land remains.

The Construction, Housing and Utilities Ministry estimates that the housing will cost 750 billion rubles to build, with 100 billion rubles in infrastructure costs covered by the government.

The program currently covers 36 regions, but may be expanded. Men said 460,000 Russian families would own apartments under the program by 2017.

Read more

Independent journalism isn’t dead. You can help keep it alive.

The Moscow Times’ team of journalists has been first with the big stories on the coronavirus crisis in Russia since day one. Our exclusives and on-the-ground reporting are being read and shared by many high-profile journalists.

We wouldn’t be able to produce this crucial journalism without the support of our loyal readers. Please consider making a donation to The Moscow Times to help us continue covering this historic time in the world’s largest country.