Issues of shared-equity construction development in the Russian Federation

Saint Petersburg State University of Architecture and Civil Engineering, Krasnoarmeyskaya Str., 4, St. Petersburg, 2 nd, 190005, Russia

^* Corresponding author: vladuskov@yandex.ru

Abstract

The leading role of the construction sector is considered toppriority for the development of other sectors of economic activity and consolidation of social stability. The development and competitiveness of the country’s economy largely depends on the efficiency of the construction complex functioning. Besides the legislative amendments aimed at protection from real estate scams, it was proposed to create a new system of shared-equity construction. For instance, in 2017, the list of instructions from the President of the Russian Federation was published that summarized the results of the meeting with members of the government. The Government of the Russian Federation, together with the Central Bank of Russia and the Agency of Housing Mortgage Loans, were assigned to develop within three years a legal framework of the staged replacement of citizens’ funds attracted for erection of apartment buildings and other real estate with bank lending or other forms of financing. Changes in the legislation of the Russian Federation inevitably lead to new risks emerging in the shared-equity construction. The article presents the analysis of the development of legal relations in shared-equity construction, shows possible ways of development, shortcomings and risks of the construction sector, ways to resolve possible conflicts.