Cash Transactions Prohibition Explained by the Specialist
Going Cashless in Real Estate: What's the Buzz?
Dive into the chatter @expert_mag
Step into the world of cashless real estate transactions, where every penny's path is laid bare, helping to trace the origin and destination of funds. But why do builders cling to cash, you ask? That's usually where the gray, shady activities live, including bribes and such. A seasoned expert puts it this way: "When you conduct cashless transactions, they become more transparent, helping to understand where the money came from and where it goes. But why do builders take cash? Usually, it's where there's some gray, shadowy activity, bribes, and such. Since apartments are the most reliable investment tool for people, to 'turn off the tap' for these corrupt and gray schemes and trace the source, that's probably what this is all about," he said.
While a cashless real estate scenario might seem imminent, the impact on prices remains a mystery. Mikhail Beliaev, an expert in the field, predicts a stable real estate market, stating, "There are many other factors determining the rise in real estate prices."
In a recent development, Svetlana Razvorotneva, the Deputy Chair of the State Duma's Housing and Utilities Committee, hinted at a potential law banning cash transactions for real estate above 1 million rubles by the end of 2025. However, specifics about the law's current status or expected adoption date are scarce. Svetlana stated that the proposal is planned to be submitted to the State Duma "around the end of June." The Russian Union of Real Estate Market Participants, including "Samолет плюс" and "Etagi," has also voiced their support for limiting cash transactions in real estate, as per TASS reports.
With many legal and financial challenges in Russia, such as concerns over cryptocurrency regulations and economic repercussions of sanctions, it's crucial to keep an eye out for updates on the specific proposed law regarding cash transactions in real estate. Consulting recent Russian legal or legislative updates directly from official Russian legal resources or news outlets focusing on Russian legal developments is the best way to stay informed.
Hashtags: #RealEstate #Cash #Legislation
- The expert's perspective on cashless real estate transactions suggests a move towards transparency in financing, helping to root out shady activities such as bribes that are often linked to cash transactions in the business of real estate.
- In line with the deputy chair's announcement, there might be a potential law instance that would ban cash transactions for properties worth more than 1 million rubles by the end of 2025, as a step toward enhancing finance transparency within the real-estate market.
