Coldy Real Estate Digest for January 11 to 18

• From January 1, 2021, a number of the Rosreestr’s orders came into force, regulating the state cadastral valuation. The innovations will primarily affect citizens who want to correct errors in the cadastral values of their real estate, according to the Rosreestr’s press service. In particular, the application form for correcting such errors will be changed, which will significantly simplify the procedure. Now an application for correcting errors made during the cadastral value determination can be submitted by any individual or legal entity in relation to any real estate object. Several objects can be specified in one application. It can be submitted both on paper, by signing each sheet, or in electronic form, by certifying the document with an enhanced qualified electronic signature.
• By the end of 2021, the Ministry of Construction will have submitted to the State Duma a draft bill on creating conditions for a private rental housing market formation in the country, in particular, "the bill is aimed at increasing the transparency of the residential rental market, ensuring the protection of the rights of landlords and tenants," the DOM.RF explained.
• Saudi Arabia will have a city that is completely free of cars. “This is a new model of a city that is clean, well-tended and has zero carbon emissions”, said Saudi economist Mazen al-Sudairi. Moreover, according to the expert, this model will attract more direct investments and secure a technology-based future model.
• The Bank of Russia plans launching mortgage granting on a blockchain platform. According to the CB’s First Deputy President, Olga Skorobogatova, this project will be popular on the market as it will render the processes “seamless”, as well as help abandon “routine old technological solutions”.

More detailed information on the aforementioned events and other important news on the real estate market is available in the Coldy company’s Real Estate Digest magazine.