According to the Ministry of Construction, in Russia there are about 86 thousand deceived equity holders - people who have invested in housing, which has become long-term construction. A quarter of all objects and now do not have a deadline. In October 2017, deductions of developers to the fund for the protection of shared construction began - it is assumed that he will be able to protect those who invested in the construction in the future. Last week, Russian President Vladimir Putin personally called the activists of the initiative group of defrauded real estate investors from Chelyabinsk, where more than one and a half thousand families were left without apartments. At first they did not believe that it was him, but then they heard “Putin's intonations from the TV” - the president said that he was taking the matter under his personal control. Three days earlier, Putin criticized the actions of officials ("Here we are talking endlessly about equity holders. Well, why?") And instructed to abandon the shared construction scheme for three years.
All these measures will not help to solve an existing problem: equity holders across the country rally, demanding housing purchased by them. On November 11, interest holders from the Odintsovo LCD "Emerald Valley" settled in unfinished apartments to draw attention to the situation. And recently, the Prosecutor General’s Office even recognized as extremist the page of defrauded real estate investors from Gelendzhik after they posted an announcement about the rally.
Life around chose three characteristic cases of delayed construction deadlines and figured out how shared construction works in Russia, why equity holders refuse to consider victims and what those who wait for apartments for three months and three years each hope.
LCD "Barkli Honey Valley"
Interest holders: 929
delay in terms: 2.5 months
Half a million in half a year
LCD "Honey Valley" is located in the village of Krekshino. Previously, Barkli Corporation built luxury housing in Moscow, now on renderings are low-rise buildings with apartments and studios from 1.8 million rubles 20 kilometers from MKAD. “Even Mercedes is popular for its S-class, but it earns the most from minibuses and trucks,” the corporation explains the adjustment to the strategy.
In April 2017, Roman Izmailov bought an apartment here. His wife persuaded him to buy, and "the collective mind eventually believed in the seriousness of the plan." The couple arrived in Krekshino, looked at the layout, they were assured that the houses would be delivered on time. They chose a three-room apartment and paid 7 million rubles for it, concluding a share agreement (DDU). We ordered a design project, previously agreed with a team of repairmen and began to wait on June 30 - on that day they were promised to give them the keys *. But on June 26 a letter came from the developer. It reported that there would be no keys on time, later it became known that the delivery of the object was postponed for six months.
In Russia, 80% of new housing is being built under the shared construction scheme — that is, with the involvement of money from future owners to build the object. Since 2004, the relations of interest holders and developers have been regulated by the federal law "On participation in shared construction", or 214-FZ - this is an alphanumeric combination that people like to mention in advertising of new buildings. The law was supposed to protect the people who invested in the construction: before that, the contract of the buyer and the developer had not passed the mandatory registration in Rosreestr, double sales occurred and financial pyramids flourished. The new law stipulated that the value of the object, the deadline for its delivery and the amount of the penalty for non-performance should be clearly stated in the equity agreement.
If the deadline has come and the object is not ready, the builder’s task is to force the shareholder to sign an extension agreement by any means
Upon learning of the postponement, Izmailov decided to get a penalty - he considered that the builders owed him about half a million rubles. Lawyer Irina Dagaeva notes that the practice is as follows: if the deadline has come and the facility is not ready, the builder’s task is to force the shareholder to sign an extension agreement by any means. So, people can be offered free square meters in exchange for an increase in terms, promise a rough finish for free or discounts on repairs. "In my practice, there was a case when the developer signed an agreement with the real estate investor to extend the deadlines in exchange for lower prices, and then took all the copies agreement, stripping the interest holder of any evidence, "she says.
According to Izmailov, instead of a forfeit, the residents of the "Honey Valley" were offered gifts - certificates to hardware and furniture stores worth 50 thousand rubles. Many interest holders accepted them, having signed an agreement on postponing the deadlines for home delivery. But Izmailov nevertheless appealed to the court: “I am a lawyer by training, so this is more or less a simple question for me. To begin with, we made a complaint: they looked into our eyes and said that the house will be built on time. The next stage is a preliminary meeting "Although, if they propose to conclude an amicable agreement, I am ready to lower the requirements and shake hands."
In practice, getting a forfeit is not so simple. Recovery in a district court takes about six months, and all judges significantly - sometimes several times - reduce the amount of payments. The right to collect money can be sold to a legal entity: then the case will be considered in an arbitration court and the payment will be full, but developers are aware of this and often include a clause on the prohibition of such a concession in the contract.
Waiting for the trial and completion of construction, the Izmailov family is forced to endure household inconveniences: from September 1, the children went to the wrong school (they will have to change it), and they still get to work for half an hour and 30 kilometers longer. The question with the Moscow residence permit is postponed. However, there are no serious fears: according to the man, his house is 95% completed and it is simply unprofitable to abandon it so that everything stalls. A Barkli spokesman declined to comment.
The managing partner of Miel - Country Real Estate, Vladimir Yakhontov, notes that even the most responsible developer can delay the deadlines for several months. “Development has always been characterized by high risks and a degree of uncertainty associated with obtaining permits, housing commissioning and the pace of sales. There are a lot of approval procedures during construction in our country. Moreover, each of these procedures can be violated by state authorities both in terms of time, and passage, and the number of documents that are necessary for execution. The developer, faced with obstacles, is forced to delay construction. "
* Permission to put into operation the first phase of the construction of the "Honey Valley" was issued on March 30, 2018. Residents get their keys.
Apartments: more than 4 thousand
delay in terms: 50 months
"Citizens are not protected with us"
You can get a penalty only if the developer is a “living” legal entity and there is money on its accounts, says lawyer Irina Dagaeva. Otherwise, the decision will remain on paper. Developers often try to avoid or defer payments: open new accounts in other banks through which they spend money, or reorganize a legal entity.
"As soon as a problem arises, everything is automatically set against you. I have writ of execution for collecting a penalty for late construction. But I can’t recover anything because the developer does not have money in the account," says Ekaterina Shinkareva. More than four years ago, Shinkareva bought a 27-meter studio ten minutes from the Novokosino metro station. The girl is still waiting for her apartment.
Despite the fact that a fixed construction time is one of the main points of an equity agreement, the law cannot protect against deadlines. The fines and penalties provided do not save interest holders from the risk of obtaining unfinished housing instead of housing. "Bottom of the bottom" - this is what the neighbor of Yekaterina Yevgeny Kuts describes what has happened in his life over the past three years. In April 2014, Kutz and his wife bought a kopeck piece in the 13th building of the Novokosino-2 residential complex: there was heated debate in the family, the couple wanted to find a high-quality economy class - so that the house was not an anthill, not small and not panel on the floor, and monolithic brick. The house that I liked in Reutov was almost completely sold out and was supposed to surrender in December. The man took a mortgage and concluded a DDU, having paid "damnable by today's standards money" - 200 thousand dollars.
While the spouses looked after the kindergarten for their daughter, the deadline for putting the property into operation was postponed for a year. The company assured that the real house would be rented in the summer, and December 2015 is the time with a margin. Kutz monitored the construction site: “I thought, okay, they’re delaying a little. A month passes:“ Well, they’ll start now. ”Then one more. The snow fell on the photos, the rain passed, the grass grew. Many thanks for coming from windows did not start to grow ... "
A month passes: "Well, now, now they will begin." Then another one. In the photographs, snow fell, the rain passed, the grass grew. Many thanks that she did not start to grow from the windows ... "
Judging by the site of the developer GC "Expert", in addition to high-rise buildings in Reutov, near Moscow, it has no projects. Although two years ago, the owner of Expert, Andrei Rozov, wanted to build the largest Trump Tower skyscraper in Moscow City, but it did not work out with the company of the US president. Meanwhile, in Reutov, “Expert” several times postponed the deadline for the completion of the residential complex, the developer was accused of affiliation with the city administration, withdrawing money from the construction site to the offshore zone and conflicts with contractors. The company did not respond to Life around's request for the fate of the construction site.
Realizing that the project was turning into a long-term construction, residents of the 13th building began to unite. In the same situation were neighboring houses. Among the failed tenants there was even a serial money-holder: a large single mother came from Kazan, where she had already invested in a stopped construction site, and at the stage of the foundation pit she bought an apartment in Novokosino-2. Residents together created a forum, gathered an initiative group, wrote letters to officials of the Moscow region, "made friends" with the Communist Party and Yabloko. “Somewhere we were soccer, somewhere at first they were chewing, and then they were soccer,” Shinkareva says.
Now they hold rallies with a frequency of once a month. The construction of the 13th building, where Kuts bought an apartment, is promised to be completed in the second quarter of 2018. But on forums with a discussion of construction, they do not believe much in this: "We have been eating with Rollton for a long time." Although there are those who believe that the construction will continue. "Are they stubborn? The construction costs three years, there is no money in the account, and bankruptcy proceedings have been opened in the arbitration," the activists are outraged.
"If the house is built and stands under the roof, but they don’t give the keys, then this is of course unpleasant, but not the worst option (most likely, there are problems with paperwork or cadastral registration), worse if the construction is stopped at an early or medium stage, "says Dagaev. If the developer goes bankrupt, but the house is completed - you can achieve the transfer of the apartment. If the construction is frozen, you can enter the register of financial claims and try to get the money. In any case, bankruptcy is a lengthy process, and the first thing that interest holders should do is go to court, the lawyer notes.
According to Kuts, Reutov’s developer is doing everything possible to tighten the deadlines within the framework of procedural opportunities and prepare for self-bankruptcy. “They just wait for a favorable moment, then they will choose the arbitration manager themselves. And in our corrupt country, a tangible advantage is when you choose who will bankrupt you,” he says.
Kutz and his wife on maternity leave and daughter continue to live in a rented apartment, but now the mortgage for Novokosino-2 has also added to the costs. Regardless of what will happen to the object, the bank expects payments - 40 thousand rubles a month. "The emotional background is tough, it all depresses, interferes with sleep, and tastes of life," the man says.
Entering the registry of affected equity holders should have alleviated the problem. Now in such a register in Moscow there are only 35 objects and a little more than 4 thousand people. In a similar document in the Moscow Region there are even less facilities - 25. State support is included in the register. In what form - depends on the decision of local authorities. This may be, for example, the allocation of subsidies for completion.
However, in practice, the state does not recognize either Eugene or other Novokosino-2 interest holders as victims. Residents are suing the Reutov administration for the right to consider themselves deceived. Since July this year, the authorities changed the unfinished counting system: now the registry is being formed for problematic facilities. An object is recognized as such if the deadline is nine months and if funds have not been invested in construction for more than six months. "Even if the developer puts one brick a day, then by law he continues the construction. Now, even if one ruble was invested in the construction over two quarters, this means that the construction continues. On this basis, we are refused," Shinkareva says. Kutz adds: “You, as an honest person, work, earn, rent an apartment, pay loans, raise a child, and just give some kind of uncle, very cunning, give 6 million rubles at zero percent. You’re absolutely powerless and defenseless - no matter what "FZ-214. Citizens are not protected against anything from us."
Interest holders: 817
delay in terms: 11 months
"There is almost no hope"
In Troitsk, interest holders of two high-rise buildings have been waiting for their apartments for almost 15 years. Last year, a fresh unfinished building appeared in the city - the Legenda residential complex with seven buildings and a kindergarten.
There were a lot of plans, and now zilch. But we have not remained on the street, and many have nowhere to go. There are people who have already eaten the pending money for repairs, but nowhere to live
“When we first went there, it was a place like in a fairy tale, beauty,” says Elena Potemkina. Elena’s husband, Pavel, didn’t want to live surrounded by 25-storey buildings, and low-rise buildings were just planned in the Legend. The family booked a house in order to have time to sell the apartment and the land in another place, and in July 2014 they purchased two apartments in a residential complex at once: three-room for themselves, two-room for parents. At first everything was fine: the couple often went to the site and saw construction cranes and growing houses.
The fact that the construction site is frozen, Elena and her mother found out by watching live on local television in March this year. Women say they were "a bit short of Kondraty." Later it turned out that the developer InvestStroyGrupp LLC had misused 1.4 billion rubles intended for construction. A criminal case was opened. “We steal at all construction sites, but if half disappears somewhere, it’s strange. The crisis could not affect this to such an extent. There would be a shortage, but not half,” the residents argue. The developer around did not respond to the Life around request.
Prior to the court’s decision in September this year to ban raising additional financing for the construction of an apartment in Legend, it was sold. And, strangely enough, they were bought. Elena is surprised: where did people climb in the second place, when the first did not give up?
Initially, the "Legend" had three initiative groups, residents decided to file a lawsuit to recognize the ownership of the apartments in unfinished. This is a necessary measure in case of bankruptcy and a change in the developer. Elena says that residents paid 20-50 thousand rubles for lawyer services. For a class action lawsuit of 100 people, one of the specialists received 6 million rubles. Now the co-owners of "Legends" are waiting for the arrival of a new developer: "There is almost no hope, but she dies last." From what is happening here and now - a monthly mortgage payment. “We will now pay it for 15 years,” says Potemkina. “And the children ... There was a third in the project, and now I don’t even know. There were a lot of plans, and now zilch.”But we have not remained on the street, and many have nowhere to go. There are people who have already eaten the pending money for repairs, but there is nowhere to live. They’re shooting, and how long this will continue is unclear. "
Since October 2017, developers must contribute 1.2% of each concluded share agreement in a new facility to a specially created compensation fund for shared construction. The fund was created on behalf of Prime Minister Dmitry Medvedev to help finish building houses or return money to equity holders if their developer went bankrupt. For a month, 54 developers transferred money to it. But these rules apply only to new facilities, so nothing will change for Roman Izmailov, Yevgeny Kuts, Elena Potemkina and tens of thousands of affected equity holders across the country.
deceived equity holders in Russia
earned compensation fund shared construction
deductions of developers from each object to the fund
problem objects in Moscow
1 trillion rubles
shared construction market volume in Moscow
concluded agreements DDU in Moscow
by DDU in Moscow
growth in property value when abandoning shared construction
There will be no more shareholders
A week ago, Russian President Vladimir Putin instructed to develop measures to phase out shared construction. It will be replaced by project financing of developers, it is assumed that this will significantly reduce the risk for property buyers. The transition period will take three years, in the future, developers will not be able to raise money from equity holders - banks will finance the construction. According to the head of the Ministry of Construction of Russia, Mikhail Me, "citizens will not risk their own money, but to purchase already built housing." This innovation will radically change the housing market, experts say.
The cost of the project will increase by 15-30%, the price of real estate will also increase, the executive director of Miel - Country Real Estate Lyudmila Tsvetkova is sure. "Refusal from shared construction in full or in part should eliminate dependence on the rate of sale of objects, although the developer will have to pay interest on the loan, and these amounts will be much larger," she says. Details are not yet clear - a failure mechanism is only being developed. "The pace of construction will increase, because it will not depend on the speed of sales, banks will monitor the spending of funds for their intended purpose. Of the minuses - the increase in construction costs and the inaccessibility of credit resources for many developers, they can leave the market," says Tsvetkova.
Establishment of key partners with Est-a-Tet Roman Rodiontsev agrees with her: today, the main demand in Moscow falls on 10-12 major developers, in the future they will stay afloat, weak players will not withstand and leave the real estate market. "Companies will evaluate market saturation and dose out new projects so that there is no overstocking of the market. If we refuse to share construction, we will see price increases proportional to the additional financial burden that will fall on the developer," he says.
Project financing is the main scheme for raising funds for construction in Europe. “There is no concept of shared construction on the European real estate market, apartments or apartments are sold only in finished houses, moreover, they are almost always finished and even furnished. Europe is used to seeing only a finished product. We must assume that we will go the same way. True "The interest rates on loans in Europe for developers are about 4%, while ours is much higher. And using the project financing scheme in the form in which it exists now will lead to a rise in price of real estate," neralny director of "Miel - New" Natalia Shatalina.
The transition period will take several years and so far does not imply a radical rejection of shared construction, experts say. However, neither the new fund, nor the new construction financing scheme provides an answer to the question of how to solve the existing problems of equity holders. Elena Potemkina’s mom wants to make an appointment with Putin, this should be done as soon as possible: "We sold the apartment and invested in the construction, but our son lives with us. He is 30 years old, he needs to get married. Where will he go now?"