Dolgostroyotryad: more than half of Russian developers miss deadlines
Buyers are increasingly choosing ready-made apartments, fearing delays from developers. In the first half of the year, about 50-60% of developers violated the deadlines for the completion of facilities, experts say. This situation can lead to bankruptcy of developers: due to the lack of funds in escrow accounts, it will be more difficult for them to fulfill their obligations, and after the moratorium is lifted, they will have to pay for delays. How buyers can protect their rights and what to do if delivery deadlines are disrupted — in the Izvestia article.
Why is the delivery being delayed?
Only 11% of new buildings in Moscow will be commissioned without lagging behind schedule in 2026, Metrium experts told Izvestia, who analyzed the current project declarations.
According to their data, at the end of 2025, developers planned to introduce 182 new buildings in the first half of 2026. However, only 21 of them were completed without falling behind schedule: 15 on time, and six more ahead of schedule. Another 161 buildings could not be completed on time.
"Despite the end of the moratorium on fines for postponing commissioning dates, developers in the Moscow region need more time to fully stabilize construction schedules," said Yulia Ivanova, Director of the Analytics and Consulting Department at Metrium.
According to her, the restoration of schedules is hampered by the difficulties in the work of contractors, who have to adapt to the high key rate. The situation is also complicated by staff shortages and disruptions in logistics chains amid international tensions.
At the same time, delays are observed in all housing classes. For example, in the mass segment of "old" Moscow, 34 buildings were planned to be commissioned in the first half of 2026. Seven of them were built on time, two more were ahead of schedule, and 25 could not be completed during the quarter specified in the project declaration.
57 buildings were planned in the business class. However, only seven were completed on time, four ahead of schedule, while 46 facilities were not completed on time. In the premium segment, the commissioning of 19 buildings was planned, but none of them was completed on time. Only one of the 16 planned facilities was commissioned in the high-budget one.
—In 2026, development companies are massively postponing the commissioning of facilities: sometimes for a month, and sometimes even for one or two years," MR. Analytics experts commented. — At the same time, the financial stability of most projects still does not cause concern. The project financing system reduces the risk of bankruptcy of developers and protects the interests of clients. Nevertheless, customers are increasingly facing significant inconveniences. In order to avoid delays in issuing keys, customers are reorienting to ready-made new buildings and complexes that are being built ahead of schedule.
What is the situation in Russia
In the whole country, the postponement of the commissioning of new buildings has reached 60% today compared to 40% a year earlier, said Olga Tumaikina, Commercial Director of FGC Group.
"This situation is largely explained by the expensive financing of construction, as well as a decrease in demand due to the tightening of preferential mortgage programs," she said.
Yulia Bocharnikova, executive director of the federal company "Floors", said that every tenth house in the country is rented after the deadline. According to her, in some cases, the reasons are a real violation of the construction cycle, in others — bureaucracy and force majeure circumstances related, for example, to weather conditions.
"Some developers have accumulated delays after the moratorium on the collection of penalties by equity holders in case of violation of deadlines," the expert added. — Some developers began to cheat and hand over the "semi-finished product" when part of the work is carried out after the house is put into operation.: This applies to cleaning the premises and landscaping.
In the first half of 2026, more than 50% of the country's developers handed over their houses late, said the founder and director of the portal "Vseostroike.Russian Federation" by Svetlana Opryshko.
"The lifting of the moratorium on fines from January 1 has partially disciplined the market, but disruptions persist," she stressed.
According to her, the reasons for the delays depend on the region. Among the main factors, she cited the high cost of project financing, reduced demand due to the unavailability of mortgages and a shortage of staff. The latter leads to increased costs for specialists and additional costs beyond the budget. The timing is also affected by inflation, which makes construction more expensive. In addition, disruptions in supply chains can lead to delays, especially when contractors are under heavy workload.
The situation with the commissioning of housing really shows an alarming trend, added Gennady Shitikov, head of the Project Management Department at the Rasvetay Stolitsa company. According to their data, according to the results of the first half of 2026, more than half of Russian developers — 53% — handed over new buildings late.
"At the same time, there are more transfers," he pointed out. — But most often we are talking about technical and planned delays: developers simply need additional time to complete landscaping, connect engineering networks and issue the necessary documents.
Today, the increase in the number of delays is largely due to a decrease in demand for housing, said Alexey Artoshin, commercial director of Glavstroy Regions.
"At the same time, the average postponement period is decreasing, which indicates a gradual stabilization," the expert added. — Basically, we are talking about shifts of 2-4 months due to a commercial decision. The long-term systems of the past years are gradually leaving the market. Against this background, some buyers are really shifting their choice towards houses that have already been commissioned or projects at the final stage of construction. The closer the deadline for receiving the keys is, the less uncertainty there is.
How should the buyer act in case of delays
The trend towards buying apartments in the late stages of construction is gaining momentum, Yulia Bocharnikova confirmed. According to her, this is due to the fact that after switching to project financing, it became difficult for developers to reduce prices at the excavation stage.
"Therefore, the economic benefit for equity holders has decreased and is not always able to cover the same rental costs for the construction period," the expert explained. "This is a dangerous trend for developers, since they need to fill escrow accounts at all stages of construction, otherwise their debt burden increases due to higher rates.
The cost of project financing depends on the dynamics of filling escrow accounts with developers, Denis Zhalnin, CEO of the People development company, added.
— At the same time, the problems of developers are snowballing: the supply on the market remains large, and postponement of deadlines or deficiencies only exacerbate the situation, — he stressed. — Now even a small delay can reduce the interest of buyers who have become more cautious and pragmatic.
The main risk of the developer is a default on payments from apartment buyers, Gennady Shitikov recalled. By the date of commissioning, the escrow accounts should have accumulated an amount sufficient to repay the debt on the project loan.
"If buyers leave en masse for ready—made housing, the filling of escrow accounts slows down and the developer risks not closing credit obligations to banks," the expert said. — In addition, unsold housing in ready—made houses is a serious burden on developers. Shifting demand forces them to shorten project deadlines and increase process transparency. Previously, the level of house sales at the time of commissioning was 80-85%, but now it has decreased and in some segments is approaching the threshold.
If a developer's demand drops sharply, but obligations to creditors remain, this can lead to a cash gap and, as a result, to signs of bankruptcy, agreed Stanislav Sobolev, head of the IEF Legal's troubled asset restructuring and bankruptcy practice.
— Special provisions of the Bankruptcy Law apply to developers, — the lawyer noted. — They allow you to complete the facility and transfer the premises to the shareholders or return the money to them, including from escrow accounts. However, if the claims of creditors, including shareholders, are not satisfied, managers and other persons controlling the developer may be held vicariously liable.
If the developer has violated the deadline for delivery by more than two months, the buyer has the right to terminate the contract unilaterally and demand a refund, Svetlana Opryshko reminded.
Buyers need to understand that signing additional agreements with new deadlines may deprive them of the possibility of collecting penalties in case of delay, Yulia Bocharnikova emphasized. The delay must be documented, then a pre-trial claim is sent to the developer, and if there is no response to it, you should contact the court.
— In addition to the cost of the apartment, you can also collect a penalty for each day of delay, interest, compensation for moral damage and court costs, — said Svetlana Opryshko.
Due to the current situation in the real estate market, experts suggest discussing again the change in the mechanism of escrow accounts. In their opinion, due to the reduction of preferential programs and the high key interest rate, some developers may face an excessive burden on project financing.
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