Almost 40% of housing in Russia is built using escrow accounts
Almost 40% of the total construction of residential buildings is built using escrow bills. The president of the National Association of Builders (NOSTROY) Anton Glushkov told the Construction Business News Agency about this.
“We have been working for more than a year using the escrow accounts mechanism, we see a positive trend – now 38% of the total construction of residential buildings is being built using escrow accounts. The mechanism, about which developers were skeptical at first, has earned and is actively gaining momentum in all of Russia. Practice is being developed, new nuances appear, and we are discussing how to adjust the legislation”, – said Anton Glushkov.