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Housing rent dynamics and rent regulation in St. Petersburg (1880–1917)

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  • Kholodilin, Konstantin A.
  • Limonov, Leonid E.
  • Waltl, Sofie R.

Abstract

This article studies housing rents in St. Petersburg from 1880 to 1917, covering an eventful period of Russian and world history. Digitizing over 5000 rental advertisements, we construct a state-of-the-art index – the first pre-war and pre-Soviet market data index for any Russian city. In 1915, a rent control and tenant protection policy was introduced in response to soaring prices following the outbreak of WWI. We document official compliance, rising tenure duration, and strongly increased affordability for workers. While the immediate prelude to the October Revolution was indeed characterized by economic turmoil, rent affordability did not dominate.

Suggested Citation

  • Kholodilin, Konstantin A. & Limonov, Leonid E. & Waltl, Sofie R., 2021. "Housing rent dynamics and rent regulation in St. Petersburg (1880–1917)," Explorations in Economic History, Elsevier, vol. 81(C).
    • Handle: RePEc:eee:exehis:v:81:y:2021:i:c:s0014498321000164
    DOI: 10.1016/j.eeh.2021.101398
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    Cited by:

    1. Kholodilin, Konstantin A., 2024. "Rent control effects through the lens of empirical research: An almost complete review of the literature," Journal of Housing Economics, Elsevier, vol. 63(C).
    2. Hahn, Anja M. & Kholodilin, Konstantin A. & Waltl, Sofie R., 2020. "Forward to the Past: Short-Term Effects of the Rent Freeze in Berlin," Department of Economics Working Paper Series 308, WU Vienna University of Economics and Business.
    3. Trojanek, Radoslaw & Gluszak, Michal, 2022. "Short-run impact of the Ukrainian refugee crisis on the housing market in Poland," Finance Research Letters, Elsevier, vol. 50(C).
    4. Konstantin A. Kholodilin, 2022. "Rent Control Effects through the Lens of Empirical Research," DIW Roundup: Politik im Fokus 139, DIW Berlin, German Institute for Economic Research.
    5. Richard Keely & Ronan C. Lyons, 2022. "Housing Prices, Yields and Credit Conditions in Dublin since 1945," The Journal of Real Estate Finance and Economics, Springer, vol. 64(3), pages 404-439, April.
    6. Richard Keely & Ronan C Lyons, 2019. "Debt and Taxes: The Sale-Rent Housing Price Ratio in Dublin since 1945," Trinity Economics Papers tep0419, Trinity College Dublin, Department of Economics.

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    More about this item

    Keywords

    Rental market; Rent regulation; Intra-urban rent dynamics; Hedonic rent price index; Economic history; Pre-Soviet Russia; October Revolution;
    All these keywords.

    JEL classification:

    • C14 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods and Methodology: General - - - Semiparametric and Nonparametric Methods: General
    • C43 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods: Special Topics - - - Index Numbers and Aggregation
    • N93 - Economic History - - Regional and Urban History - - - Europe: Pre-1913
    • O18 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Urban, Rural, Regional, and Transportation Analysis; Housing; Infrastructure

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