In July, the Moscow government announced plans to expand the city limits to the south and southwest. By absorbing a handful of villages and areas, the size will increase by 2.4 times. A huge portion of government offices will relocate to the area, the first of which will be the office of the prime minister and the cabinet as well as the presidential administration. Transportation infrastructure will expand to connect the new, pizza-slice shaped territory with the rest of the capital city.
The plan was introduced to offer a solution to the excessive traffic and overcrowding of the city. While the population of Russia has decreased in recent years, the population of Moscow has increased sharply. This has resulted in all-day traffic jams and high priced real estate, both on the rental and sale side. Officials are eager to rectify this problem in an effort to attract investment and establish an international financial center.
The expansion is projected to accommodate 20 million people and one million jobs.
Planned expansion:
Moskovsky
Aprelevka
Troitsk
Shcherbink
Podolsk
Klimovsk
What will happen to real estate prices?
There are new residential housing complexes under construction in the area of expansion, and Credit Suisse reports that these developments will see a boost in sales prices.
These developments projects are in their earliest stages. Contact At Home Moscow to learn more about buying or renting from these projects.
How will living options be affected?
Over the next 5 to 7 years, accessibility to central Moscow will improve, and those looking for a home in Moscow will find that more properties are available for rent or sale. Construction within this region will continue, and plans for improved transportation continue to be released. Current transportation upgrade proposals include:
- Improvements to roads and bridges within the current Moscow boundaries plus reconstruction of roads in the vicinity of Moscow.
- New metro lines and extension of existing lines.
- Construction of new railway stations
- Construction of light rail lines
- Construction of transport hubs which will allow passengers to transfer from commuter system to the urban transport system
View of the city from a Moscow apartment
Moscow remains an extremely popular destination for locals and foreigners alike. Russians continue to flood into Moscow while expatriates continue to relocate. We’re optimistic that the expansion will ease the strain on this lovely city. Will the measure boost investment and transform Moscow into a global financial hub? That is yet to be discovered, but Moscow will certainly remain a growing and thriving city.
Telephone: +7 495 950 57 58
E-mail: moscow@athome-network.com
Website: www.athome-network.com/ru
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INTERNATIONAL CONCEPT OF WORK FROM HOME
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Thus think over this concept and go ahead.