Entrepreneurs Face Marketplace Withdrawal Delays

Real estate developers in Moscow have stopped investing in projects featuring small, low-cost apartments. Experts cited a shortage of skilled labor as a contributing factor to the inability to meet construction deadlines. Konstantin Prelev, founder and honorary member of the Russian Guild of Developers, stated that many developers expected construction to continue indefinitely and cannot complete projects on schedule. The delays are linked to material price volatility and insufficient capital. Delays in construction projects in Russia may reduce the supply of ready-to-move-in housing. Konstantin Aprelyev noted that ready housing is currently 15% to 30% more expensive than new builds. These delays could lead to lower prices for existing homes in specific locations. Constant delays may also cause buyers to avoid new construction in favor of cheaper, completed properties. Business owners are experiencing delays when attempting to withdraw funds from a marketplace. Boris Vale explained that these delays are due to the equalization of conditions with other market participants. The platform has introduced a new service allowing sellers to withdraw funds immediately for a specific commission. Leo Shevchenko, founder of the seller platform Mercatus, noted that problems persist for many users.