Seven regions completely switched to housing construction through escrow

The first seven regions have completely switched to housing construction through project financing and escrow accounts, according to DOM.RF. In another 10 regions, the new scheme accounts for more than 90% of the current construction portfolio, according to the data of the information system nash.dom.rf.

“The transition to escrow has entered its final phase. We see that more than 70% of all multi-apartment housing is being built according to the new scheme. So far, the final transition to this model took place in regions with small volumes of construction. But large entities are also catching up: for example, in the Chelyabinsk region and the Udmurt Republic, each of which builds more than 1 million square meters of multi-apartment housing, projects implemented using escrow accounts account for 98% of construction. In fact, this will mean the complete completion of the transition to the new model, “- said Nikita Belousov, Deputy Head of the DOM.RF Analytical Center.

Apartment buildings in the Kurgan region, the Komi Republic, the Amur and Novgorod regions, Kalmykia, Karachay-Cherkessia and the Magadan region are already being fully built with the involvement of project financing. The total volume of housing being built in these regions is about 500 thousand square meters. m. In another ten regions, escrow projects account for more than 90%. These are Chelyabinsk region (98%), Udmurtia (98%), Mordovia (98%), Oryol (98%), Ulyanovsk (95%), Orenburg (95%), Sakhalin (94%), Penza (92%), Nizhny Novgorod (91%) and Kirov regions (91%).

The total amount of funds placed on escrow accounts reached 2.6 trillion rubles as of September 1. Since the beginning of the year, this figure has more than doubled – in January, about 1.2 trillion rubles were recorded on them. In total, 14.7 million sq. M. Have been built and commissioned in Russia under the escrow scheme. m of housing in high-rise buildings. More than 2.2 thousand houses built according to the new scheme have been commissioned. Since July 2019, when buying an apartment, equity holders transfer money not to the developer, but to the escrow account in the bank. The developer receives them only when the house is put into operation. At the same time, developers build houses at the expense of borrowed or their own funds. The transition to project financing was made to eliminate the problem of defrauded equity holders.

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