The law on construction in the Russian Federation complies with less than half of market participants?

The infamous law No. 214-FZ, which has many “holes” of various sizes in the most prominent places, has long become a “talk in the town” not only among developers and real estate investors, but also among officials of supervisory authorities. The ones that must protect this law. Therefore, the statement of the president of the real estate chamber of St. Petersburg Dmitry Shchegelsky, in which he openly stated that the law on shared construction observes only about 40 percent of the companies, did not cause much resonance. In order not to be deceived, Schegelsky advises buying apartments not in the primary, but in the secondary housing market, albeit at a higher price.

However, the main “loophole” for unscrupulous developers promise to “close” legislatively in the very near future. As you know, many companies finish the object for some equity holders for the money of other equity holders. This is a kind of pyramid, which sooner or later, but will lead either to a lack of funds and freezing construction, or to very significant losses of the company. It is planned to legally oblige to open “one account for one object”, in addition, to prohibit replenishing this account with any means other than funds directly from equity holders.

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