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Impact of the COVID-19 Pandemic on the Housing and Construction Markets

In: Post-COVID Economic Revival, Volume II

Author

Listed:
  • Mariia I. Ermilova

    (Plekhanov Russian University of Economics)

  • Irena Zavrl

    (Fachhoschule Bugenkand)

Abstract

This chapter, “Impact of the COVID-19 Pandemic on the Housing and Construction Markets,” shows the unpreparedness of certain market segments to the adaption needed to weather the current situation. Digital transformationtransformation was supposed to be the main trend in the housing market. A significant problem was the multidirectional informationinformation and the aggregate of data that was provided to the subjects of the housing market. This predetermined the need to improve the information infrastructureinfrastructure of the Russian housing market, considering international experience. Foreign experience shows both the active digitalizationdigitalization of data and the availability of sufficiently effective tools that allow market participants to make informed and adequate decisions regarding the constructionconstruction or purchase of housing. Within the framework of this study, the information infrastructure of the Russian housing market was presented. This considered how both modern digitaldigital technologies and the consequences of the crisiscrisis (which itself does not have an economic essence) have impacted on the housing sector. Since the role of the statestate in the country is quite significant, this aspect was also considered in the formation of this infrastructure. The author proposes to create a single information center that will accumulate, process, and issue the required information to market entities. The author showed that at the initial stages, financing the formation of the information infrastructure of the housing market can be carried out from state funds, which will make it possible to free up funds for the developmentdevelopment of not only the market, but also related industries. The author showed the influence that the information infrastructure of the housing market has on decisions to build or purchase housing, as well as on the process of financing market entities.

Suggested Citation

  • Mariia I. Ermilova & Irena Zavrl, 2022. "Impact of the COVID-19 Pandemic on the Housing and Construction Markets," Springer Books, in: Vladimir S. Osipov (ed.), Post-COVID Economic Revival, Volume II, chapter 0, pages 173-185, Springer.
    • Handle: RePEc:spr:sprchp:978-3-030-83566-8_11
    DOI: 10.1007/978-3-030-83566-8_11
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