Research of the problems of project financing of construction of residential real estate using the escrow account mechanism
https://doi.org/10.26425/1816-4277-2021-5-176-182
Abstract
The article shows the current situation in the real estate market. The publication considers the main problems of financing investment and construction projects, as well as the use of the escrow account mechanism. The study also proposes the main ways to solve the existing issues. The main focus of the research paper is on the lack of explanations regarding the ability of banks to dispose of money in escrow accounts, credit conditions, as well as the growth in real estate prices when developers switch to a new mechanism of settlement with shareholders. In addition, the authors analysed the pricing policy of developers before and after amendments to Federal Law No. 214-FZ, dated on December 30, 2004 “On Participation in Shared-Equity Construction of Apartment Buildings and Other Real Estate Objects and on Amendments to Certain Legislative Acts of the Russian Federation”. The study presents the possible consequences of introducing amendments to the law, switching to escrow accounts.
About the Authors
I. A. Pantyukov
State University of Management
Russian Federation
Russian Federation
Ilya A. Pantyukov - Graduate Student, State University of Management.
Moscow.
V. A. Opekunov
State University of Management
Russian Federation
Russian Federation
Valeriy A. Opekunov - Cand. Sci. (Econ.), State University of Management.
Moscow.
References
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2. Decree of the Government of the Russian Federation No. 697 dated on 18.06.2018 (revised on 16.05.2019) “On Approval of the Criteria (Requirements) which, in accordance with the Federal Law “On Participation in Shared Construction of Apartment Buildings and Other Real Estate and on Amendments to Certain Legislative Acts of the Russian Federation” must be met by authorised banks and banks which are entitled to open escrow accounts for settlements under agreements on participation in Shared Construction”, Legal reference system “ConsultantPlus”. Available at: http://www.consultant.ru/document/cons_doc_LAW_301230/ (accessed 21.03.2021).
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Review
For citations:
Pantyukov I.A., Opekunov V.A. Research of the problems of project financing of construction of residential real estate using the escrow account mechanism. Vestnik Universiteta. 2021;(5):176-182. (In Russ.) https://doi.org/10.26425/1816-4277-2021-5-176-182
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