On Friday, Moscow hosted the traditional summer business brunch "Development: Reloaded" of the Kommersant Publishing House. This event was attended by the General Director of the Metropolis company Alexander Vorozhbitov.
The popular discussion platform brought together leading developers, consultants, representatives of regulatory bodies and development institutions.
The speakers were Konstantin Timofeev, Chairman of the Moscow City Committee for Ensuring the Implementation of Investment Projects in Construction and Control in the Field of Shared Construction (Moskomstroyinvest), Denis Filippov, Deputy General Director, DOM.RF, Kirill Bagachenko, Chief Financial Officer of the Etalon Group, Veniamin Golubitsky, President of KORTROS Group of Companies, Elena Voronina, Vice President of Leader Invest, Svetlana Zobnina, Partner at EY (real estate tax area).
The housing construction market is on the verge of dramatic changes that may affect not only the future of individual developers, but also the industry as a whole. It is already obvious today that updating the rules of the game will be difficult and even painful. The new mechanisms of work are designed, first of all, to protect the interests of citizens in need of housing, and to ensure the transparency of the entire development market. In this regard, the most important thing is to find a balance between the interests of buyers and business.
The opinion of the majority of experts agreed that changes in the legislation could lead to the enlargement of market participants, while the price of the final square meter, other things being equal, would not grow significantly. The cost will undoubtedly be influenced by both the mortgage lending rate and the inflation component. The level of supply and demand in the medium term will be in balance due to the potential of existing project portfolios. The experts also noted that the new regulatory mechanisms will lead to the fact that the term "deceived equity holder" will remain in history.
The organizer of the event was Kommersant Publishing House.