Financial strategy of multi-apartment housing developers in the conditions of anti-inflationary monetary policy

The article examines the transformation of the financial strategy of developers of apartment buildings in the context of anti-inflationary monetary policy. The main trends of the apartment building market and their impact on the financial strategy of developer companies are considered. The main channels of influence of tightening monetary conditions on the availability of mortgages for the population, which led to a decrease in sales in the market; on pricing policy and terms of sale of primary housing; an increase in risks associated with the liquidity of developer companies; an increase in the cost of their capital. The main elements of the financial strategy are presented, taking into account the specifics of construction projects of developer companies, allowing them to adapt to the conditions of high interest rates by balancing operating cash flows, fulfill covenant conditions for a project financing transaction with a bank and maximize the value of the business for shareholders.