​Russia will launch tokens to buy housing in 2023

What’s new? Kirill Khrapov, commercial director of Samolet, a Russian construction company, said that offers to buy tokens for part of the cost of the apartment may appear on the market as early as Q1 2023. According to him, by redeeming a digital asset, the investor will receive a part of the property that provides it. Thus, the buyer will receive a passive income by increasing the price of the apartment when the house is completed, Izvestia reports.

Izvestia’s material

What else is known about the initiative? To purchase a token for part of the cost of the apartment will be through a broker. Thus, the representatives of the construction company Petersburg Real Estate (a part of Setl Group holding company) informed the publication that they know about the development of a special platform for the sale of digital assets by a major stockbroker.

According to Yulia Moshkova, Mortgage Director of Petersburg Real Estate, the citizens of the Russian Federation will not need to take out a mortgage to buy property. In addition, Russians will not have to register ownership of an apartment in the traditional way, or even withdraw money from a brokerage account, she noted.

Vyacheslav Priymak, Head of the Mortgage Products Department at Ingrad Group, believes that digital assets will make investments in housing more accessible. He also noted that, on the whole, the market of primary real estate in Russia is promising, despite the high prices for apartments.

Anatoly Aksakov, Chairman of the State Duma Committee on the Financial Market, said that the regulation of this sphere is being discussed, noting that the law does not currently prevent the issuance of such tokens.

In October, AGIA International announced the sale of 60 luxury villas in the form of NFTs issued on the Ethereum blockchain. Real estate will be built on the Bahamian island of Great Exuma. It is noted that this method of sale will simplify the deal and consolidation of ownership, and buyers will also receive residency and access to the Bahamas’ offshore banking system.