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For those who don't know: PIK (ПИК) is the largest property developer in Russia. Most of the newly built affordable housing in Russia tends to be very high rise, low quality and not conductive to decent living conditions.

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Most new builds in Melbourne are already of low quality. I lived in an apartment built in 2013 with water leaking in from the roof three levels above, and the sound insulation was so bad I could hear my neighbours putting cutlery away. And the elevator broke down daily.

The difference is that these apartments require the vast majority of your income (rent) or a 30 year mortgage.

So PIK doesn’t sound too bad to be honest.

The obvious upside is that it does have "affordable" and "housing" in a single sentence, especially if we are not talking about Moscow (but even then your chances of owning your own home now exist).

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