Nabiullina expressed concerns about the ban on cash when buying a home

The chairman of the Bank of Russia, Elvira Nabiullina, expressed concern that the ban on cash payments in real estate transactions could lead to prices moving into the "shadow" sphere. She shared her opinion on February 13 at a press conference following a meeting of the regulator's board of directors.

"What I'm afraid of is, for example, that if bans are imposed on such payments, in cash, so that these transactions and the price of transactions do not go to the "shadow" area," Nabiullina said.

According to her, this may lead to underestimation of prices in non-cash contracts, while cash will be paid separately, outside the contract. Nabiullina also noted that it is premature to draw final conclusions on this topic, adding that the situation requires additional assessment.

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