Russia drafts new law to regulate home installment payment schemes
A new draft law aimed at regulating installment payment schemes for home purchases is being developed by the Bank of Russia and the Ministry of Construction. The legislation seeks to protect the rights of apartment buyers who use such payment plans. Meanwhile, the Central Bank is also pushing for changes to insider trading laws before its second reading in parliament.
The Ministry of Construction is currently finalising the draft law after receiving input from the Central Bank. The proposed legislation focuses on installment payment schemes, which have so far lacked clear legal oversight. This gap in regulation has created risks for both buyers and property developers.
Separately, the Bank of Russia has held discussions with financial sector representatives to refine the bill on insider information and market manipulation. The Central Bank is preparing targeted amendments to this law before it returns to the State Duma for its second reading. Despite the ongoing work, the current draft does not include specific measures to protect buyers in installment purchase contracts for residential real estate. Official sources have not provided further details on additional safeguards at this stage.
The new legislation, once finalised, will introduce clearer rules for installment payment schemes in real estate. The Central Bank's proposed amendments to insider trading laws will also move forward in the coming weeks. Both measures aim to address existing regulatory gaps in their respective areas.
