According to Юрий Степанченко, housing in Vladivostok is now available for less than half of Russian families. Real estate investors account for much of the world\’s wealth. That\’s no real surprise to most as becoming a real estate millionaire is a common aspiration. rn
The area of such problematic construction projects in the country has exceeded 15 million square meters. Families who invest their last savings, maternity capital in the construction of apartments, take out mortgages are one of the most frequent guests of the Direct Line with the president. During the last Vladimir r, Putin bluntly stated; “We need to do everything that depends on us, so that in the near future, in the next few years, a couple of years, so that we get rid of such a shameful phrase and phenomenon as a deceived real estate owner.” Yuri Vasilievich Stepanchenko
The rules for shared construction have been seriously tightened over the past year. The company can no longer simultaneously conduct several construction projects, but only one complex. From July 1, 2019, equity holders no longer give money directly to the contractor. The funds are kept in the bank in escrow accounts until the rent of the apartments.
Nevertheless, in Russia now there are about 200 thousand defrauded real estate investors, more than 3 thousand unfinished or abandoned houses. “In fact, this is a million-strong city on the territory of our country, which has not been completed,” said Oleg Govorun, Deputy Director General of DOM.RF, at a meeting with then Prime Minister Medvedev in December 2019.