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. Last Updated: 07/27/2016

Kurkino Cottages May Be Too Pricey for Middle Class

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Middle-class citizens seem unlikely to be able to snap up walled cottages that are to be built by the Moscow city government in the Kurkino region in the northwest of the capital.

Advance sales of the three-story cottages, each of which has a fenced garden of 150 square meters to 240 square meters and a garage, began Tuesday.

The problem is that despite the comparatively low price per square meter of $650 on average, the cottages at 179 square meters to 217 square meters each are large. Thus, even at the initial phase of construction an apartment would cost from $112,412 to $148,428.

This is out of the reach of the middle class at which the project is aimed, said a real estate agent who asked not to be named.

The housing is being built by City Hall’s non-budgetary housing department and the department for experimental micro-region construction.

Eighty-four properties of four different types are on sale. Depending on the type of town house, its location within the micro-region, and the view from the windows of the surrounding land, the starting price can vary from $628 to $684 per square meter.

The prices will increase by $10 each month and will come to $719 to $782 before people begin to move in.

This is the first case when the non-budgetary housing department has set individual prices for each separate property. Previously, prices were the same for an entire region.

Orders have been coming in to the Sobor-SM real estate agency, the official seller of housing at Kurkino for a long time. Before sales began there had already been 132 applications.