The authors of the article identify the legal issues arising because of the apartment-market development in Russia. The article describes the apartment-market, including performance indicators of the scope of proposal in the primary housing market in apartment buildings and apartments in Moscow-city; the volume distribution of apartments proposal on administrative districts of Moscow-city, the price relation for 1 square meter of total apartment space in apartment buildings and apartments depends on the administrative district of Moscow. The articles analyses the legal status of the apartments and the reasons for the apartment market development.
Authors: T.D. Polidi, T.K. Baykova, E.V. Igumenov
Development of the loft apartment market - as an illegal segment of real estate market - reveals, at the same time, several underlying specificities of relations existing in Russia’s town planning and housing sectors:
1) Economic relations prevail over legal ones since legislative requirements – as these pertain to real estate development and sale – appear to be only partially complied with, if at all ignored once the interests of developers come into play.
2) Absence of clearly articulated town planning policy specifying the priorities of a city’s spatial development, along with the lack of requirements to architectural look of a city lead to sporadic urban development as a result of inconsistent decision-making on the part of private investors.