MASS DEMAND FOR ‘BANKRUPT’ HOUSING IS GROWING IN MOSCOW

Lenta.ru media quotes the research data of Vadim Zaykov, according to whom the demand for such housing increased by 232% in two years.

The researcher noted a particularly steady growth in demand that has emerged over the past few months. There were 0.76% more applications for such housing in May than in April.

According to experts, the main reason for the mass demand is the general increase in housing prices (23% per year).

In addition, the reason for the popularity of the purchase of mortgaged housing was the increase in the activity of electronic platforms selling such real estate objects at significantly lower prices (up to 30% of the average market price).

As noted by realtors, a drop in prices is most often a signal that apartments have encumbrances. Usually, the fact that the previous owner or his relatives are registered in the apartment becomes such a burden for the buyer. Therefore, when buying, experts recommend conducting a preliminary analysis in order to have the most complete information on the ‘history’ of each such object.

Experts point out that more difficult situations are possible when the apartment is formally pledged by the bank, but the owner is unable to service the loan.

In this case, the new owner who bought the ‘bankrupt’ housing is usually forced to initiate legal action, asking the court to issue an order to deregister the former owner and evict him. However, the legal process can be quite long and unpleasant.