The Ministry of Construction, Housing and Communal Services is ready to allow equity holders
purchase of apartments in installments using the mechanism of phased replenishment of escrow- accounts. This was stated by the head of the ministry, Vladimir Yakushev.
According to Vladimir Yakushev, a phased replenishment will be a good bonus for citizens in terms of sales, as well as an incentive for the developers themselves. Also, according to him, the Ministry continues to discuss the disclosure of accounts for developers.
Previously, the Central Bank blocked the proposal to disclose escrow accounts as the project stages are completed, however, the Ministry of Construction spoke in favor of allowing interest holders
buy apartments in installments using the mechanism of phased replenishment of escrow accounts. The installment plan will not affect the process, since developers, according to the law, will be able to withdraw the funds contributed by equity holders from the bank only after the completion of the facility.
