Translartion. Region: Russians Fedetion –
Source: Moscow Government – Government of Moscow –
Since April 2024, small and medium-sized entrepreneurs have purchased almost 500 premises from the city under preemptive rights. This was reported by the Deputy Mayor of Moscow for Urban Development Policy and Construction Vladimir Efimov.
“In April 2024, the term of ownership and use of real estate based on a lease agreement, after which a small and medium-sized business entity (SME) has a preemptive right to purchase it, was reduced from two years to one year. This made it possible to expand the pool of companies that have the opportunity to exercise the preemptive right to purchase. Since then, representatives of small and medium businesses have purchased about 500 premises from the city with a total area of about 61 thousand square meters,” said Vladimir Efimov.
The possibility of buying out a property or building after a year of renting it is of primary interest to entrepreneurs whose business demonstrates high growth dynamics. After purchasing a property, the new owner can dispose of it at their discretion, for example, by renting it out.
“SMEs buy real estate from the capital at market value, which is determined by independent appraisers. To provide additional support to entrepreneurs, the city has provided for an installment plan for up to seven years. This allows small and medium businesses to evenly distribute payments without using credit funds. Since April last year, 99 percent of former tenants have taken advantage of this opportunity,” said the Minister of the Moscow Government, head of the capital’s Department of City Property.
Business representatives who have been leasing the property for at least one year and are included in the register of small and medium-sized businesses can buy the property from the city. The lease rights must be acquired at regular auctions under general conditions. For premises sold at specialized auctions for SMEs, the lease term must be at least two years, and the property itself must be on the list of objects intended for use by small and medium businesses for at least five years.
To buy out the property rented from the city, you need to apply for a government service “Paid alienation of real estate leased by small and medium-sized businesses from the state property of the city of Moscow”. This can be done exclusively in electronic form on the mos.ru portal.
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