Pros and cons of new amendments to the law on shared construction
The advantages of the new mechanism are: a guarantee of the readiness of the apartment and infrastructure, the absence of delays in registering property, ease of registration and payment of mortgage loans, the absence of long-term construction, a possible reduction in the interest rate on mortgages for new buildings,” said Asya Levneva, Director of the Marketing and Sales Department of CJSC “ Baltic pearl. The disadvantages include: - the exit of a number of developers, - an increase in the cost per square meter, - the inability to save money on buying an apartment at the stage of excavation - a drop in the level of sales of investment apartments, the share of which developers today can be from 20 to 40% of the total housing stock. Opinions on the amendments vary, many real estate market participants look to the future with apprehension. At the same time, one should not forget that when 214-FZ was developed in 2004, he was also viewed with skepticism. However, the law coped with the tasks for which it was created. Double transactions with apartments in new buildings have practically come to naught, the market has become more transparent and reliable for the buyer.
