How the market for apartments will change in 2019 / RBC Pro
Apartments may be equated with hotels in the coming year, and it will become impossible to rent apartments out without a management company. RBC Pro explains how the market for apartments will change because of this.
Amendments to the law on tourism activity are coming into effect starting from 1 July 2019 and will deal a blow to the market for apartments. The owners of apartments will no longer be able to rent them out independently, without a management company. Maya Petrova, Specialist Partner and Head of the Real Estate and Construction Practice at Borenius Russia, explained to RBC Pro what these amendments mean for business and what the options are for continuing to generate income and use apartments.