Gareev I.F.Published in:
Russian Journal of Housing Research
– Volume 4, Number 4 (October-December 2017)

JEL classification: L74, R31, R38

Keywords: blockchain in construction, equity construction, housing construction, housing market, risks, shared construction, the risks for investors


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Abstract:

In this part of the large-scale study we have analyzed the activities of developers in the city of Kazan on the subject of building relationships with real estate investors. We have studied the initial permissive documentation of the leading developers of the city with the implementation of the method of field research, and the main scheme of building the contractual relationship with shareholders are determined. As a result, it is determined that developers prefer to avoid liability for non-compliance with the stated terms of construction and do not comply with full information transparency about the terms of financing of the project. This can lead to significant risks for shareholders. In order to protect all participants in shared construction, we have proposed a new ecosystem of the primary real estate market based on blockchain technologies. The presented materials and proposals will be useful for government agencies, professional market participants and citizens wishing to reduce their risks in the primary residential real estate market.

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