Qualimetric Substantiation of Necessity for Differentiation of Interest Rate of Builders’ Allocations in Participatory Housing Construction
As a result of adjustment of economic and legal field of housing construction in Russia, the amendments to the federal legislation that came into effect quite significantly reduced the risks of individuals involved in the participatory construction (“equity holders”): control functions of the authorized bodies are strengthened; it became obligatory to receive a statement on compliance from the authorized body; new edition of the project declaration and the ban on its sending to the supervisory authority without the full payment of the authorized capital came into effect; requirements to the authorized capital of property developers have been increased; the guarantee of banks and the maintenance of escrow accounts became necessary; a fixed interest rate for developers’ payments to the State Compensation Fund was approved. However, to date, the legislator has not offered to the market a methodology for correct assessment of reliability of property developers. In the work presented, statistical and analytical data are systematized on the volume of investment in housing construction under the equity agreements; on the share of the total area of suspended construction in the total volume of uncompleted housing construction by the end of the year, and a forecast is made for distribution of housing construction of bankrupt developers. In addition, the authors qualitatively justified not only a sufficient amount of the interest rate for allocations of developers, but also the need for its differentiation depending on the experience of builders being appraised, the results of their financial and economic activities and portfolios.