Transformation of the institutional rent of developers of multi-family housing into institutional rent of credit organizations

The article analyzes the process of transformation of the institutional rent of developers of multi-family housing, arising in the light of changes in the order of access of developers to the funds of co-investors (use of escrow accounts) and the introduction of the institution of project financing. The existing and newly emerging institutional barriers are cited, the redistribution of institutional rent in favor of the banking sector as a result of these changes is postulated. Directions are proposed for further monitoring of institutional changes in the construction of multi-unit housing in order to preserve its sustainability and to achieve priority indicators of the industry's development (construction volume, housing affordability, etc.).