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Financial Analytics: Science and Experience
 

Russia's housing market: an analysis of the development in 2006–2015

Vol. 9, Iss. 8, FEBRUARY 2016

PDF  Article PDF Version

Received: 21 December 2015

Received in revised form: 15 January 2016

Accepted: 25 January 2016

Available online: 27 February 2016

Subject Heading: MONITORING OF ECONOMIC PROCESSES

JEL Classification: R30

Pages: 36-46

Ermilova M.I. Plekhanov Russian University of Economics, Moscow, Russian Federation
masha080487@mail.ru

Importance The article deals with the processes, which took place in the housing market of Russia within 2006–2015, and relationships arising from residential property transactions.
     Objectives The research monitors Russia's housing market within 2006–2015 in order to identify the principal issues of its development. I point out milestones in the development of the Russian housing market and its issues.
     Methods Employing methods of historical and statistical analysis, I found what milestones the Russian housing market had passed; identified key issues of the segment and formulated measures that might improve the situation.
     Results The article indicates four milestones of the housing market development within 2006–2015, i.e. pre-crisis, crisis, post-crisis, turbulence. The article also describes the key issues of the contemporary housing market.
     Conclusions and Relevance I conclude that it is necessary to create conditions in Russia's housing market for boosting the population's effective demand, i.e. develop lending instruments, expand supply of affordable housing, subsequently increase housing construction rates in the mass sector.

Keywords: housing market, monitoring, mortgage loan, effective demand, saving and loan offices

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