(MOSCOW) – Domestic property developers across Russia are facing increased scrutiny as home buyers report receiving new apartments in states of significant disrepair. Despite the high costs associated with luxury residential projects, where units often trade for upwards of 414,371 roubles ($5,369) per square metre, the quality of construction has reportedly plummeted. Analysts suggest that the diversion of national resources to the ongoing invasion of Ukraine has left the domestic construction sector starved of quality materials and skilled labour.
New homeowners in the capital have documented systemic failures, including widespread black mold, structural cracks that compromise natural ventilation, and internal temperatures that fail to exceed 13°C during the winter months. Reports indicate that some developers have substituted standard insulation with industrial waste and paper, leading to severe thermal inefficiencies. Furthermore, engineering systems in these high-cost developments are frequently compared to antiquated hardware, with plumbing and heating systems prone to geyser-like failures that damage neighbouring properties.
The financial stability of these property giants is also in question. Experts estimate that approximately 20% of Russian developers are currently on the verge of bankruptcy due to a collapse in demand and the cessation of state-subsidised mortgage programmes. While the Russian dictator claims the economy remains resilient, the reality for many citizens is a housing market where entry-level security features are faulty and basic waterproofing is treated by developers as an unnecessary luxury.
