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According to the Press, the RF government is planning to abolish equity construction by 2020.
DATE: July 28, 2015 | AUTHOR: atlawyers
According to the Press, the RF government is planning to abolish equity construction by 2020. Relevant amendments to the law on equity construction are expected to be developed by autumn of 2015. From 2016 to 2020 a transitional period will be introduced, during which construction will be financed with the participation of banks. After the abolition of equity construction, developers will be able to sell facilities only after their commissioning, which may increase the cost of apartments in the primary market. Moscow region authorities are also lobbying for the abolition of equity construction.