RESIDENTIAL REAL ESTATE MARKET IN RUSSIA: STRUCTURE AND CYCLICITY OF DEVELOPMENT

Abstract

Conducting a structural analysis of the real estate market is important for participants. It allows an investor, buyer, seller, or other participant to determine the phase of development of the real estate market. Analysis provides an additional tool for making the optimal decision now and in the future, which means that the problem is relevant. The purpose of the study was to identify the main market structures for the primary and secondary housing market, as well as to identify their relationship with the cyclical development of the market. The objectives of the study were to study the experience of domestic scientists, to determine market structures and cycles in the development of various segments of the residential real estate market. There was also an analysis of statistical data in physical and monetary terms, a description of the dynamics of the housing market over a twenty-year period by regions of Russia, Kazakhstan, and the Republic of Belarus. The methods of detailing, generalization, logical inferences, and graphical visualization of data were used in the article. The study revealed a typical market structure for the primary and secondary segments of the housing market, and established a link between the phase of market development and the market structure. The primary residential real estate market is characterized by elements of perfect competition, while the secondary real estate market is characterized by monopolistic competition. Cyclicity in the development of the real estate market is reflected in the type of structure and there is a decrease in the level of competitiveness.

Keywords: secondary real estate market, primary real estate market, market structure, housing price, market development cycle

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About the Author

Valentina N. Berdnikova – Cand. Sci. (Economics), Docent; Associate Professor, IMSIT Academy, Krasnodar, Russia. E-mail: wkoshman@rambler.ru . SPINРИНЦ 5854-6298. ORCID 0000-0002-9842-8368

For citation: Berdnikova V.N. Residential Real Estate Market in Russia: Structure and Cyclicity of Development // Beneficium. 2024. Vol. 1(50). Pp. 31-39. (In Russ.). DOI: 10.34680/BENEFICIUM.2024.1(50).31-39