Tags Posts tagged with "Russia"

Russia

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The quality of services provided by real estate brokers in Russia should improve significantly as a new regulatory framework for the industry was recently announced.

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A financial downturn in Russia, blamed on Western sanctions, has made sellers less likely to use the services of real estate brokers. More than 4,000 real estate agencies have closed during the last 12 months.

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The Russian government has approved new professional standards for domestic real estate practitioners, with the aim of making their activities more efficient and transparent and to better protect the interests of clients.

Russia moves to improve real estate regulation

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The Russian Federal Anti-Monopoly Service (FAS) and the Accounts Chamber (the parliamentary body of financial control in Russia) is designing a new legislative base for the Russian real estate industry.

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Putin said that although he supports self-regulation for many industries, “In the case of real estate business, a lack of state control results in many violations. In this regard, state control for the activities of real estate brokers should be significantly strengthened.”