Developers predicted the last two years a massive bankruptcy of small and medium developers of housing due to the forced transition to project financing and escrow accounts, has sharply changed the rhetoric. Last Friday participants of the online conference “b” have expressed a different opinion: it is project Finance, in their opinion, helped to prepare the market for the sudden crisis resulting due to pandemic COVID-19. Published later statistics of the savings Bank has confirmed that developers are now more willing to construct housing under the new rules. Since the beginning of this year, the Bank approved developers of housing loans in the framework of project financing on 328 billion rubles, much of which was 166 billion rubles in April. Since the beginning of the year, Sberbank has also opened up an escrow account to 88 billion rubles, half of this amount came in in April. Analysis of available statistics other authorized banks shows that small and medium-sized companies the majority of projects implemented under the new scheme. So, according to the beginning of may, MITS, almost all its volume of 816 thousand sq. m. — building with use of escrow accounts. The “Cranberries” under the new rules is being built 345 thousand square meters — more than 60% of the construction developer housing.The new rules insisted that the state, arguing that they will withdraw from the shadow part of the industry that are in a gray area, and therefore will protect investors from possible unfinished. As explained by Deputy CEO of ICD Alexander Kaznacheev, the project financing “guaranteed covers the entire expensive part until the completion of construction”. “You can safely continue the project, despite the local decline in sales, and later to implement housing in a high stage of readiness, offsetting the cost of the loan,”— says the banker. But even in the event of permanent force majeure the owners of companies that build housing in the project Finance and escrow accounts will come away with what they themselves admit in informal conversations. To finish will be to the creditor banks. However, the beneficiaries will have to give the banks all the shares in the company, performing the functions of the developer in the project. It is a lesser evil than the army of defrauded investors, insisting generally on the prosecution of the former owners of the company. But risks can arise from banks. Though if to judge the speed with which was started the program of preferential mortgage at a rate of 6.5%, you can be sure that the banking lobby will not allow to enter in the deep sleep the market which brings him an income.