In Russia, it will be forbidden to purchase housing for cash

The introduction of a ban on real estate transactions for cash was supported by the Prosecutor General's Office. This follows from the response of Anatoly Razinkin, first deputy of the department, to Svetlana Razvorotneva, deputy chairman of the Committee on Construction and Housing and Communal Services from the United Russia faction, who had previously put forward a legislative initiative to introduce such a restriction.

Percentage point: developers massively refuse installment payments for housing

Some of them have also begun to reduce the attractiveness of such a product to customers.

In a document that Izvestia has, it is reported that due to the prevalence of remote fraud in real estate transactions, the deputies' proposal to adopt a special law establishing rules for the provision of intermediary services is supported.

"The bill banning housing transactions for cash did not appear out of thin air. This is one of the steps towards creating an entire system for the security of the purchase and sale of real estate in Russia. The fact that it is necessary is confirmed by the sad statistics," Svetlana Razvorotneva, the author of the initiative, explained to Izvestia.

According to her, in 2022, the Prosecutor General's Office recorded more than 6 thousand crimes related to the deprivation of citizens of apartments, in 2023 - more than 8 thousand. If we talk about the damage, it amounts to tens of billions of rubles annually and its amount is constantly increasing, the deputy stressed.

Read more in the exclusive Izvestia article:

Banknote certificate: Russians will be banned from buying housing for cash