In occupied Mariupol, sales of flats in new-build developments have risen by 230 per cent over past year: 305 flats were sold in July
In the temporarily occupied Mariupol, sales of flats in new-build developments are rising rapidly. In July, 305 flats were sold, representing a 230 per cent increase compared with the same period last year.
According to Censor.NET, this was reported by Petro Andriushchenko, head of the Centre for the Study of the Occupation.
According to his figures, one of the factors driving demand is a preferential mortgage at 2 per cent per annum. To date, 3,097 out of 7,088 flats – 43.7 per cent of the total – have already been sold across 14 major housing developments in Russia.
"In other words, we are now looking at a fully-fledged mass property market. Older estates are gradually being sold off, and in their place, developers are constantly building hundreds and thousands of new flats," said Andriushchenko.
According to him, Russia has set up a financial mechanism in the occupied city through which flats are transferred into the private ownership of Russians.
The largest proportion of flats in the first phase of mortgage-backed housing development was sold in the ‘House with a Clock’ residential complex – 204 out of 234, or 87 per cent.
At ‘Residence’, 167 out of 237 flats (70 per cent) have been sold; at ‘Residence II’, 97 out of 152 (64 per cent); and at ‘Mirapolis’, 182 out of 289 (63 per cent).
In the ‘Leningrad Quarter’, 1,499 out of 2,453 flats have been sold – 61 per cent. In ‘Residence III’, 82 out of 136 flats have been sold (60 per cent), and in the ‘Olympic’ complex, 47 out of 81 (58 per cent).
According to Andriushchenko, the occupiers’ oldest housing developments have already completed the main sales phase, whilst developers continue to bring new flats onto the market.
