More funding for extensive repair of multi-residence buildings in Russia

Vitalie Iambla, Construction Analyst, PMR
In 2019, a major support to residential construction activity in Russia will be provided by regional programmes involving the extensive repair of multi-residence buildings. According to the Federal Law No. 271-FZ dated 25.12.2012, a new section was introduced in the Housing Code that envisages creation of a mechanism for financing extensive repairs of the common property of multi-residence buildings. Under the so-called Law on Capital Repairs, the owners of apartments in multi-residence buildings have to pay monthly contributions to a regional capital repairs fund. According to the legal…

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