Sochi authorities massively sell out Olympic cottages

Sochi authorities massively sell out Olympic cottages
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Another auction for selling cottages, built within the framework of preparation for Winter Olympic Games 2014, was held on the 3rd of August in the Russian city of Sochi.

This time, nine houses were put on auction, the press office of the city administration told Construction.RU. The objects are located in Nekrasovskoye village, on Urozhainaya Street. A total number of 70 application bids have been submitted for these houses.

With initial price of 160,708 m roubles, finally, the real property items were sold for 308,908 m. Among the buyers, here are residents of Moscow, Sochi, Chelyabinsk, Kaliningrad and other cities of Russia.

The biggest cottage located on 65th Anniversary of Victory Street was sold for 58,661 m roubles. On the whole, at present, sale of Olympic cottages has brought over 1 bln roubles into the budget.

The proceeds are planned to be allocated to construction and reconstruction of schools, health care centers and roads repair.