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The housing market of Russian cities

Author

Listed:
  • Malginov Georgiy

    (Gaidar Institute for Economic Policy)

  • Sternik Sergey

    (Gaidar Institute for Economic Policy)

Abstract

The past year in the Russian real estate market was unique. Some of the trends that emerged earlier have noticeably intensified (the decline in the developers’ profitability, the digitalization of technical and business processes, increase in size and consolidation of the industry as a response to the pre-bankruptcy state of a significant part of market participants, the expansion of state support for developers and its participation in the completion of many uncompleted projects). Other trends impact the spread of remote work format, migration from megacities, the systemic revival of the individual housing construction (IHC) segment as an alternative to apartment buildings, the easing of requirements for the level of income of borrowers and their reliability, the unprecedented expansion of state- subsidized mortgages - have only just begun to take shape.

Suggested Citation

  • Malginov Georgiy & Sternik Sergey, 2021. "The housing market of Russian cities," Published Papers ppaper-2021-1133, Gaidar Institute for Economic Policy, revised 2021.
    • Handle: RePEc:gai:ppaper:ppaper-2021-1133
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    File URL: https://www.iep.ru/files/RePEc/gai/ppaper/ppaper-2021-1133.pdf
    File Function: Revised Version, 2021
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    More about this item

    Keywords

    Russian economy; residential property prices; housing market; housing construction;
    All these keywords.

    JEL classification:

    • K11 - Law and Economics - - Basic Areas of Law - - - Property Law
    • H82 - Public Economics - - Miscellaneous Issues - - - Governmental Property
    • L32 - Industrial Organization - - Nonprofit Organizations and Public Enterprise - - - Public Enterprises; Public-Private Enterprises
    • L33 - Industrial Organization - - Nonprofit Organizations and Public Enterprise - - - Comparison of Public and Private Enterprise and Nonprofit Institutions; Privatization; Contracting Out

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