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The housing market in Russia's cities in 2017

Georgiy Malginov and Sergey Sternik
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Sergey Sternik: Gaidar Institute for Economic Policy

Published Papers from Gaidar Institute for Economic Policy

Abstract: The actual development pattern displayed by the Russian economy in 2017 only in part answered the expectations voiced by the expert community in late 2016. First of all, last year there was no sustainable recovery at the macroeconomic level. Although the year-end GDP growth rate amounted to 1.5 percent, it still demonstrated rather strong volatility of its index over the course of the year. However, the professional participants of the real estate market, as well as Russian businesses in general, usually look not at GDP or industrial output indices, but at the exchange rate of the national currency, the movement of wages and salaries, and consumer demand, because the latter better describe the existing risks, while the movement pattern of GDP serves only as a background indicator.

Keywords: Russian economy; residential property prices; housing market; housing construction (search for similar items in EconPapers)
JEL-codes: K11 H82 L32 L33 (search for similar items in EconPapers)
Pages: 19 pages
Date: 2018, Revised 2018
New Economics Papers: this item is included in nep-cis, nep-tra and nep-ure
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Handle: RePEc:gai:ppaper:ppaper-2018-320