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18.01.2017Nadezhda Kosareva - About rental housing development in Russia
In megacities, large cities of the world, occupation of rental dwellings is the most prevalent type of tenure. In Berlin rental dwellings represent 80 percent of the total housing, whereas in Moscow privately-owned properties make up 85 of the total housing. Obviously, these trends are diametrically opposed to each other. And, therefore, the earlier we start to change the aforesaid proportion the sooner we will be able to resolve the problem. In 2016 the IUE made an attempt to reconcile the conceptual developments, we created, with [their} practical implementation. In this regard, [I would...
13.01.2017Nadezhda Kosareva - Housing construction: the ‘worst-case’ scenario avoided
The year 2016 was by no means an easy one for development of real estate market, housing market and housing construction industry. Yet despite poor macroeconomic conditions the housing sector showed its best sustainability capacities.
Mikhail Men, the head of the Ministry of Construction and HUS of the RF, when reporting at the session of the Public Council (under the aforesaid Ministry) said that about 80 million square meters of floor space were built in 2016. The reduction against the year 2015 was due to lesser contribution of the newly-built individual construction projects...
29.10.2016Tatiana Polidi - About Moscow industrial areas redevelopment
Dozens of industrial areas lie idle in Moscow as redevelopment has been hindered by fragmented ownership structures. However, through a new law enabling local authorities to expropriate these areas, regeneration is expected to pick up and drive a rebound in the local real estate market, as Jacopo Dettoni reports.
The regeneration of the industrial zones has emerged as a key part of the city government’s vision to redistribute jobs and residential space more evenly across Moscow's urban area and fix the city’s...
22.10.2016Alexander Puzanov - About whether there is a problem of social stratification in Moscow
— Alexander Sergeyevich, do social inequalities really pose much of a problem in the districts of the capital?
— If compared with such megacities as New York or London, the problem of social stratification across Moscow’s districts appears to be much less of a problem. Development of market economy, understandably, would only add to the problem.
— It happens, however, that residents of a certain downtown district hesitate to demonstrate their hospitality to visitors from certain urban fringes.
1.08.2016Tatiana Polidi - Housing Affordability in Russia for the year 2015 and the first quarter of 2016
Despite the tightening of mortgage lending terms and a 35% drop in the volume of mortgage loans issued in 2015 down from the values reached in 2014, the national average values of HAI improved in Russia. In 2014, 29.6% of households had access to mortgage loans, while in 2015 the value reached 30.8% of households. If assessed in terms of house price to household income ratio the affordability of housing has also slightly improved. As of 2014, it took 3.8 years a household of 3 persons to accumulate all their incomes for a purchase of a standard dwelling, while in 2015 it took a household 3...
28.07.2016Nadezhda Kosareva - About IUE concept of how to streamline the legislative and regulatory framework for housing construction cooperatives (HCC)
N. Kosareva, IUE President, who heads a Commission on Housing Policy with the Public Council under the Ministry of Construction of Russia, at a meeting, presented a concept of how to streamline the legislative and regulatory framework for HCC.
N. Kosareva proposed to replicate the cooperatives created in Western countries where the ownership of the dwellings constructed lies with a cooperative acting as a legal entity rather than with an individual acting as an equity holder. Development of HCC shall help assure the affordability of dwelling units to persons with...
24.06.2016Nadezhda B. Kosareva - About adopted amendments to Federal Law on Equity Construction (No. 214-FZ)
Excerpts from an interview given by Nadezhda B. Kosareva, IUE President, to a web portal Строительство.RU:
— Nadezhda Borisovna, how would you outline the amendments?
— These are structured, mainly, around four thematic blocks. The first one focuses on how to strengthen the requirements to developers and control over them. Specifically, a requirement regarding the charter capital of a developer has been changed. It has been recommended that the requirement be based on an established formula.
27.04.2016Nadezhda Kosareva - The deeper the crisis is, the smaller the apartment is
A correspondent of FBA "The Economy Today" learnt from Nadezhda Kosareva, the President of the "Institute for Urban Economics", what kind of living space is bought during the crisis and whether the Russians need foreign currency mortgages.
- Nadezhda Borisovna, do you think there is any sense in continuing the experience with foreign currency mortgage in Russia? After all, due to foreign currency mortgage loans more than one thousand of Russians are now driven into a financial deadlock.
23.04.2016Tatyana Polidi – About illegal attracting of construction co-investors and a new scheme of share participation
In Russia there has exacerbated the problem of hoodwinked investors – for the first time within several years this topic has been included in the federal agenda, causing a stir. "SU-155", one of the country's largest construction holdings appeared on the verge of bankruptcy. This means that dozens of thousands of its customers risk being left without the apartments, for which they have already paid off.
23.10.2015Roman Popov – On the rating of attractiveness of the urban environment in the RF for 2013
The fact that these cities lead the rating of attractiveness of the urban environment could hardly surprise anyone – Russian capitals along with the central city of Tatarstan for many years have been ranking high on various ratings. High rating of Podolsk, a Moscow satellite town, which ranks 6th appears to be less typical. Last year, however, the town ranked 4th on the rating.
Source: “Rossiiskaya Gazeta”, December 30th, 2014
20.10.2015Dmitry Gordeev – Legislative requirements to installation of gas meters
In Russia, the amounts of monthly gas payments, especially by residents of apartment buildings, are at the minimum level. If reduce the costs on paper, residential users would pay for gas several times as high. The thing is that today the price of gas meters is skyrocketing, and, hence, meters wouldn’t repay for many years.
Source: “Rossiiskaya Gazeta”, December 1st, 2014
19.10.2015Alexander Puzanov – On subsidizing single-industry towns in 2014-2017
The issue of who should be subsidized in the first place has been really on the agenda because neither uniform model nor lottery-based support could have been effective in the case of single-industry towns. It has been decided, thus, that 75 settlements from the “red zone” would get a priority access to budgetary funds. Another question eventually arose: for what tasks and in what manner the funds should be spent. There have been three options – support selected production facilities, and investment projects, or switch to financing the development of urban infrastructure. Our institute...
17.10.2015Dmitry Gordeev – On amendments to the Civil Code which made it possible to keep the independent legal-organizational form of HOAs
From September 1st , the registration of HOAs was canceled because following the amendments to the Civil Code new HOAs couldn’t be established. In their place, the owners of premises in apartment buildings might establish solely Real Estate Owners Associations (REOA). Previously established HOAs, however, have encountered a problem when found themselves unable to operate beyond the legal framework.
Source: “Rossiiskaya Gazeta”, January 30th, 2015
4.12.2014Irina Gentzler – A price of 40–50 rubles per square meter is quite affordable for Muscovites
I wouldn’t call the reform in the sphere of the overhaul of residential buildings a liberal one. On the contrary, it’s nothing but a hierarchical administrative system built in the best traditions of the Soviet Union.
Authorities, at their own discretion, determine a program, schedule, type of the overhaul, amount of payment, and concentrate large sums in the hands of one operator. That means, though you own the property, we would dispose of it.
Source: On-line media “Gazeta.Ru”, December 4th, 2014