Why are more expensive real estate, and whether to buy an apartment immediately on July 1,

What will happen July 1?

July 1, 2019 shall come into force amendments to the LawFederal Law "On Amendments to the Federal Law" On Participation in the shared construction of apartment buildings and other real estate and Amendments to Certain Legislative Acts of the Russian Federation "and Certain Legislative Acts of the Russian Federation" dated 1/7/2018 number 175-FZThat change the rules of the relationship between the company and the customer market share building.

Developers no longer be able to directly use the money to people who buy apartments on the stage of construction of the house. These funds will be kept in escrow accounts. The company will be able to remove them only after the object is put in operation.

Developers will have to take bank loans - of course, with interest. Sberbank, for example, promises credit them at 7-8%Sberbank opened rate loans to developers when the escrow accountsThat a lot.

And why this law is necessary?

This is the next stage in the development of legislation in an attempt to protect the money of shareholders.

Until 2004 there was no unified regulatory framework for the shared construction, so flourished various fraudulent schemes in the form of multiple sales of the same apartment to several customers, the disappearance of the builder with all the money and so Further.

Law 214-FZFederal Law "On Participation in the shared construction of apartment buildings and other facilities real estate and on amendments to some legislative acts of the Russian Federation " 30.12.2004 number 214-FZ much to improve things on the market of share building. It protects the buyer from the double sale of objects, regulates the relations between the client and the developer. But regulation does not insure against bankruptcy of the company that does not happen too often. Now the Ministry of Construction in the register 887Housing projects distressed buildings.

The new law is intended to protect it from the holders of such cases. If the company fails to fulfill its obligations - do not complete the construction, picks dates - the money from the escrow account will return to the client.

Like a good law. Or is there a catch?

It is not without nuance. A new mechanism to protect shareholders - it is a good improvement. It eliminates a situation where people remain without money, without an apartment, but with long-term mortgage for a non-existent housing.

However, for the builder of the building construction will cost more, that certainly will affect the value of apartments. And we are talking about the price of an unfinished housing.

Here's how it worked before: the developer took the money from co-investors and for the use of the funds provided him a discount. Buying an apartment in this case, it was a kind of investment with high risk. You could, for example, to buy housing on the stage of excavation of 1.5 million rubles, and get it ready with a market value of 2 million. Now the developer is much less reason for such generosity: he has yet to pay interest to the bank.

So that the apartments in new buildings is likely to rise: the company will not operate at a loss. But there is also a powerful deterrent - the purchasing power of Russians. Too expensive item may simply not find the merchants. according to pollsSberbank announced Russians ready to pay more for insurance in the form of escrowNow buyers are willing to pay more for safer transactions escrow accounts 5% of the sales price.

To the cost of shared construction can catch the rest of the cost Apartments. But the rate of growth depends on the market. In 2018 the primary market of housing prices and no laws on escrow accounts increasedIndices of prices in housing market 4.35%, the secondary - 1.58%.

So rise apartment or not?

It is safe to say about it, no one can. BACKGROUND indicate that the apartments will rise in price. But most of all talk about it themselves developers. It is possible that because they just push people to buy an apartment before the entry into force of the law on escrow accounts. Moreover, there is a risk that the price for such-bustler customers will already be increased.

Which in this case is just not worth it to do it in such a hurry. Risk in a hurry to give money to unscrupulous developers and be one of the last defrauded investors. Carefully check the company - Layfhaker I wrote, how to do it.

If you do not have time, do not worry. Even if prices start to rise, it is better to overpay a little, than to remain without an apartment, and without money.

Wait, what will happen to the money if the bank will choose a license?

This risk is also provided in the lawsArticle 12.1. Features of insurance funds, placed in the escrow account opened for the settlement of transactions of purchase and sale of real estate. If the bank will lose the license for deposit insurance agency will return the money - though not more than 10 million. The insurance is valid as long as the apartment will not surrender or until you terminate the contract with the developer.

It turns out, the escrow account is similar to a deposit?

Only partly, and banks in this regard is very well arranged. With the new law, they will lend to developers and get them with interest. While they will build a house, the bank can "twist" money from the escrow account and have an income. After putting into operation the builder of apartments he translated exactly the amount that you put, without interest. You in case bankruptcy also give the developer the money without interest. It is obvious who is the ultimately will benefit.

Thus, and in the end?

The results are simple:

1. On July 1, 2019 to buy real estate under construction will be safer, but perhaps more expensive.
2. The money that you deposit for the apartment will be in the bank, until the house is not put in operation. If the developer breached the obligations you to return them.
3. If you have problems at the bank's money to you, too, will return, but not more than 10 million rubles.
4. Hurry when buying an apartment is not necessary in any case - consider all the nuances. But if you choose the developer and have already planned a deal, perhaps you will save.