From February 1, 2024, Russia will adjust its approach to the state cadastral assessment by incorporating the status of buildings recognized as unsafe into the lists of real estate objects. This shift is grounded in an official order issued by Rosreestr and has been reported by RIA Real Estate. The change is designed to ensure that the cadastral framework reflects the actual safety condition of housing stock, providing more accurate data for authorities, developers, and homeowners alike.
Rosreestr clarified that in the past, information about deteriorating buildings primarily flowed from local and executive authorities during the preparation for the state cadastral assessment. It also came from organizations responsible for managing apartment buildings, such as housing administrations or management companies that record resource needs and maintenance issues. With the new procedure, these reports will be generated and integrated through automatic data extraction and processing from the Unified State Real Estate Register (USRN). This modernization aims to reduce delays and eliminate gaps in reporting, ensuring that the cadastral records better mirror on-the-ground realities rather than relying on fragmented updates from disparate sources.
The ministry underscored that the data stream has existed previously, but the reform will accelerate its delivery and enhance completeness. By standardizing how information about unsafe or deteriorating structures is captured, the state cadastral system becomes a more reliable instrument for risk assessment, urban planning, and housing policy. The integration with the USRN is expected to streamline cross-agency access to critical details, supporting faster decision-making in matters such as emergency planning, renovation prioritization, and the allocation of resources for safety upgrades across municipalities.
In the capital, Moscow, there was also a notable policy development related to cadastral valuation. Official announcements indicated a new approach to assessing real estate values, and preliminary figures suggested an average increase in the cadastral value of residential properties within Moscow for 2024. The rise reflects revisions to the valuation methodology, updated market data, and the evolving role of cadastral figures in taxation, mortgage underwriting, and urban development planning. While the exact figure can vary by district and property type, the overarching trend points to a higher baseline value that influences related economic and regulatory actions within the city.
Previously, the Central Bank of the Russian Federation made a separate monetary policy adjustment by increasing the key rate to 16 percent. While this move primarily addresses financial stability and inflation control, it also has cascading effects on the real estate market, including borrowing costs, investment sentiment, and mortgage accessibility. Market participants may respond to the higher rate with revisions to pricing expectations, financing strategies, and risk assessments. The interplay between a more responsive cadastral system and a tightened monetary environment shapes a broader urban and economic outlook, influencing how stakeholders plan renovations, value properties, and engage with public policy over the coming years.