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The housing market of Russian cities

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 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.

Keywords: Russian economy; residential property prices; housing market; housing construction (search for similar items in EconPapers)
JEL-codes: H82 K11 L32 L33 (search for similar items in EconPapers)
Pages: 27 pages
Date: 2021, Revised 2021
New Economics Papers: this item is included in nep-cis, nep-isf and nep-ure
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Page updated 2022-10-03
Handle: RePEc:gai:ppaper:ppaper-2021-1133