Tuesday 17 September 2013

Kiev's luxury ghost town where millionaire buyers fear to tread | World news | theguardian.com

Kiev's luxury ghost town where millionaire buyers fear to tread | World news | theguardian.com:

"
Deserted streets in Vozdvyzhenka, Kiev. Photograph: Oksana Grytsenko
They call it the millionaires' ghost town; dozens of brightly coloured houses in mock-19th-century style positioned elegantly in a ravine in the historical heart of Kiev.

By day, Vozdvyzhenka is popular for city walkers, wedding photo sessions and music clip shoots. But by night, the 17-hectare (42-acre) development falls quiet, its buildings dark, its street all but deserted.

Despite its prime location and agreeable facades, hardly anyone lives here. It was conceived 10 years ago as a desirable neighbourhood for the great and the good of the Ukrainian capital. But after a deep economic downturn withered Kiev in 2008 and 2009, the £85m development has lain fallow, a headache for its developers and a monument to the folly of grand designs in fragile economies."

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