An apartment in a bag: how unsold apartments will hit buyers' pockets

According to some experts, buyers of "stagnant" apartments will have to pay extra for mold removal, repair of communications, and more. The interviewed analysts insist that the developer is obliged to monitor the condition of the empty fund. Izvestia investigated how serious the dangers are and how the situation with the real estate market will develop in the coming months.

Operational difficulties

Problems with mold and communications do arise, since unsold apartments remain empty after delivery for 2-3 years or more, experts interviewed by Izvestia note.

In houses that are commissioned and partially inhabited, the developer's responsibility is to maintain heating and regularly monitor the condition of apartments, says Ekaterina Podolskaya, a lecturer at the Department of Economics and Finance at the Presidential Academy.

— If a large number of apartments remain unsold by the time residential complexes are put into operation, it is advisable for developers to consider options for temporarily providing apartments for short-term or long-term rent until the sale. This will prevent the negative consequences of empty facilities," she suggests.

Podolsk still does not expect a wave of mass bankruptcies in construction.

— In the first half of 2025, the number of new bankruptcy cases decreased by more than half, which was facilitated by the state moratorium on debt collection and the strengthening of the role of Territorial Development Funds to protect shareholders. Risks for companies due to the high cost of construction remain, but in general, the industry has moved to more restrained financial models and is more actively using government support mechanisms," explains the economist.

At the same time, developers can avoid typical problems if they use better, moisture-resistant materials, as well as ensure reliable ventilation and regular technical monitoring, says Kristina Gudym, an analyst at Finam. "But this approach will increase the cost of construction, which is not possible for all development companies," she stressed.

A miser pays twice

An apartment that has been idle for 2-3 years requires special attention during renovation. During this time, problems with engineering systems, mold, and cracks could occur. There could be other defects, says Violetta Maslieva, managing partner of the Buro2050 design bureau.

— When buying such housing from a developer, we recommend checking the condition of the electrical wiring: there is no risk of overloads and short circuits. Plumbing and pipes should also be inspected.: whether there are leaks or corrosion of metal elements. And besides, to find out the condition of the ventilation systems. When problems occur, the bathroom and kitchen are the first to suffer, this is fertile ground for the spread of mold and mildew, which is harmful to the health of residents," she said.

According to the expert, it is unlikely that you will be able to "come and live" in an apartment that has been idle for years, as promised in the advertisement.

— As a rule, repairs "from the developer" usually involve the use of not the most expensive wallpaper, linoleum, etc. We recommend replacing them. It may also be necessary to install new windows and doors — some types of low-cost chipboard emit toxic substances that are contained in the glue. The cost of renovation will depend on the initial condition of the room, the materials chosen and the complexity of the work — at least 5,000 rubles per square meter, she says.

According to the expert, the stronger and better the materials, the longer the repair will please the owner. "Polyurethane or epoxy flooring, quartz vinyl, porcelain stoneware, artificial stone and, for example, fiberglass have proven themselves well. The disadvantage of these materials is that they are not suitable for DIY repairs — professional installation is required," Violetta Maslieva summarizes.

The builders don't believe

However, the builders believe that the scale of the problems is exaggerated.

— Today, the industry is regulated by very strict, strict standards that provide a very high level of consumer protection, and in some aspects even allow them to abuse their rights. Therefore, talking about ubiquitous defects, mold, and so on is often nothing more than an Internet hype. There are such cases, but they are rare. Their share is negligible compared to the total volume of successfully completed housing," Anton Glushkov, president of the National Association of Builders (NOSTROI), said in response to a request from Izvestia.

He is sure that in order to avoid the above-mentioned problems, it is necessary to use building materials that are resistant to moisture and biological damage.

— NOSTROI maintains a National Register of Bona Fide Manufacturers and Suppliers of Construction Resources (NSDP), in which you can find all information about manufacturers' products, including documents on compliance with the requirements of standardization documents and quality documents. Those products that have successfully passed laboratory tests are marked with the "NOSTROI Quality Mark". Such products are guaranteed to meet all quality requirements, are safe for humans and the environment, and are energy efficient," said the head of the Builders Association.

The future of family mortgages

The mortgage market is recovering amid a reduction in the key interest rate and expectations about its future trajectory, Roman Karikh, senior researcher at the Laboratory of Evidence-based Economics at the Gaidar Institute, told Izvestia. Preferential mortgage programs, the main of which is family mortgage, remain the market driver, he is sure.

— However, the ongoing adjustment of state support will have significant effects on their dynamics: in the short term — at the end of this year and the beginning of next year — the issuance of preferential loans will be supported by the expansion of the Far Eastern mortgage and at the same time the expectation of tightening family mortgages from February 1, 2026 by the Ministry of Finance. Further, if the current restrictions of preferential programs (for example, regarding limits) are maintained, the government support driver will gradually weaken, because taking into account rising prices for primary real estate, it is possible to purchase fewer and fewer square meters within the limits on family mortgages established in 2018," Roman Karikh said.

According to him, this situation encourages families to choose a combined loan and, consequently, expand the market share of mortgages. As part of the combined loans, citizens will soon also be able to reduce the market rate through refinancing — this innovation is in the decree of the Ministry of Finance, he noted.

And what about the prices?

Prices for new buildings continue to rise, according to the surveyed analysts. The price increase is supported by inflation, high construction costs and existing social programs.

According to Kristina Gudym, an analyst at Finam Financial Group, the secondary market is stagnating amid high mortgage rates. "But a significant price reduction is not expected — the owners are not ready to sell the property at a large discount," she says.

Irina Nosova, Senior Director of the Financial Institutions Ratings Group at ACRA, noted the growing demand for mortgage loans for secondary housing. She attributes the surge in interest to a correction in market mortgage rates.

"However, at the end of October, borrowers' expectations became less optimistic due to the slowdown in the correction of the Bank of Russia's key rate," she says.

At the same time, the average mortgage bill for secondary housing is significantly lower than for primary housing.

— Firstly, due to the significant difference between the cost per square meter of primary and secondary housing (about 60%). Secondly, due to the fact that borrowers do not take loans for 70-80% of the cost of secondary housing, but for a small part (20-50%) due to high market rates, the expert commented.

Izvestia sent inquiries about the stagnant apartments to the Ministry of Construction, the Ministry of Economic Development, and the Ministry of Finance. The press service of the Ministry of Finance recommended sending a request to the Ministry of Construction, the other departments did not respond at the time of publication.