The position of the third Russian developers considered critical

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Photo: Sergey Bobylev / TASS

About 30 percent of Russian developers are in a critical situation in connection with the transition of the market on new rules for shared housing. It is reported RIA Novosti with reference to the head of the Ministry of construction of Russia Vladimir Yakushev.

According to the Minister, these companies are in the “red zone” on their credit worthiness and with high probability can not obtain Bank financing after the transition to the escrow account.

Yakushev said that the developers of the “red zone” erected 14.5 million square meters of housing in their new buildings has bought 250 thousand families of Russians.

Changes to the financing of housing construction in Russia come into force from 1 July 2019. Since that date, developers allowed to spend money of investors to Finance new projects. The proceeds from the sale of apartments in under construction houses, funds will accumulate in escrow accounts, developers will be able to access them only after entering into operation of new buildings. In this situation the main option for financing the construction, expected to be the Bank loans.

One of the inevitable consequences of the introduction of the new rules the real estate market called the increase in prices for primary housing.

Video, photo All from Russia.

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