Bricks of discord – Newspaper Kommersant No. 234 (7435) dated 12/16/2022
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For the third year, developers have been calling on officials in charge of the construction industry to give a decisive battle to “consumer terrorism” in the residential new building market. This concept is invested in the desire of equity holders, under the pretext of eliminating defects in construction work, to delay as much as possible the time for obtaining a finished apartment as a property. For real estate developers, time is literally money. For each day of delay, they have to pay a fine of 1/300 of the Central Bank refinancing rate. In the spring, with the onset of a new crisis, the authorities introduced a temporary moratorium on compensation payments to support developers. But with each passing day, the effect of this measure is becoming less obvious even for the officials themselves, so Deputy Minister of Construction Nikita Stasishin admitted that sooner or later the ban would be lifted.
However, the period of the moratorium does not pass in vain: it was decided to use it to prepare for the battle required by developers with “terrorist consumers”. Recently, a group of deputies submitted to the State Duma a package of amendments to 214-FZ, which regulates shared construction. One of the proposals is to limit the maximum amount of compensation to equity holders to 5% of the transaction amount. True, the initiators of the amendments emphasize that we are talking about unique objects, for example, with a height of 100 m or more and with underground structures at a depth of 15 m.
The deputies argue their idea with Western sanctions, due to which developers have to look for alternative equipment suppliers, redesign and even partially rebuild already built real estate. The authors of the amendment make it clear that we are talking about the elite segment, so the proposed limitation on the amount of penalties should not affect the mass housing market.
Developers of expensive objects indeed depended more on import supplies than developers of business-class and mass segment housing. On the other hand, the latter have learned to build high and dig deep (especially in Moscow), so they will be able to formally adjust the facilities to the parameters of uniqueness described by the deputies and limit the amount of compensation. Obviously, we will still hear about conflicts between equity holders and developers on this basis.
Due to compensation from developers, of course, you can cover part of the cost of repairs in a new apartment or the purchase of furniture. But at the same time, one must understand that buyers do not always delay accepting housing out of harm or greed. Shareholder chats are full of stories about broken pipes or collapsed parts of the facades of newly built houses. But so far, none of the deputies has introduced a bill to tighten quality control over new residential complexes, and developers delicately avoid the topic.
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