Yandex Realty, owned by Russia-based IT giant Yandex, has announced a new cashback program for Yandex Plus subscribers who will now be able to receive cashback points for buying newly built apartments through the vertical.
When buying a home from developers participating in the program, users will get at least 1% of the final cost of the apartment back as points. These can be spent on services connected to Yandex Plus: hotel bookings, air and rail fares through Yandex Travel, or household appliances and home improvements on Yandex Market.
To join the program, users need to activate the accrual of points on the pages of the residential complexes linked to the program and marked with the Yandex Plus sign in the Yandex Realty catalog, purchase a home from the participating developer and send the necessary documents to the Yandex support chat. All points will be credited to participating buyers within 30 days, after verification of the submitted claims, and can be redeemed within two months of the date of accrual.
The number of points is based on the cost of housing specified in the contract: for example, the purchase of a two-room apartment in July, the average cost of which in Moscow was RUB14.4 million ($151,000 U.S.), would convert to at least 144,000 points.
Yandex Realty says 17 developers and more than 55 residential complexes across Russia have already joined the program. In May, Yandex Realty piloted the scheme in the UAE, where it is marketing over 200 properties.
Yandex Realty is part of Yandex Classifieds, whose parent company Yandex N.V., registered in the Netherlands, is looking for a buyer to offload its Russia-based assets.