Template-Type: ReDIF-Paper 1.0
Author-Name: Malginov Georgiy
Author-Name-First: Georgiy
Author-Name-Last: Malginov
Author-Workplace-Name: Gaidar Institute for Economic Policy
Author-Name: Sternik Sergey
Author-Name-First: Sergey
Author-Name-Last: Sternik
Author-Workplace-Name: Gaidar Institute for Economic Policy
Title: The housing market of Russian cities
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.
Classification-JEL: K11, H82, L32, L33
Keywords: Russian economy, residential property prices, housing market, housing construction
Creation-Date: 2021
Revision-Date: 2021
Length: 27 pages
File-URL: https://www.iep.ru/files/RePEc/gai/ppaper/ppaper-2021-1133.pdf
File-Format: application/pdf
File-Function: Revised Version, 2021
Handle: RePEc:gai:ppaper:ppaper-2021-1133