The entrepreneur sold 9.71% of the shares of LSR Group. He needed money for "personal needs."
Break this trend may increase the cost of mortgages.
The businessman intends to sell his last property in Moscow.
Almost all developers are planning to raise prices for apartments.
The loud program of the Moscow renovation ended on a porcelain 400 billion rubles from the unspent balances on the accounts of the Moscow government. Money for the remaining 15 years of renovation there is no place to take.
In 2018, the supply in the market of Moscow's new buildings may exceed demand by almost three times. Developers continue to lure interest holders low prices, and in case of problems they hope for help from the budget. Interest holders are now afraid of the collapse of the developers themselves.
10 mln square meters of real estate will be built on the lands adjacent to the Moscow Ring Road. This could be the largest construction project in the capital after the renovation project. Profitability of the project is low, experts warn.
Did Senator Andrey Molchanov's position and acquaintance with politicians help him to build the business of LSR Group?