scholarly journals Dynamic analysis of the effects of mortgage-lending policies in a real estate market

2013 ◽  
Vol 57 (9-10) ◽  
pp. 2106-2120 ◽  
Author(s):  
Sungjoo Hwang ◽  
Moonseo Park ◽  
Hyun-Soo Lee
Keyword(s):  
Real Estate ◽  
Dynamic Analysis ◽  
Real Estate Market ◽  
Mortgage Lending

THE CURRENT TRENDS AND FACTORS IN THE DEVELOPMENT OF MORTGAGE HOUSING LENDING IN RUSSIA

2020 ◽  
Vol 6 (4) ◽  
pp. 320-333
Author(s):  
Natalia A. BABURINA ◽  
Alexey G. KUTSEV ◽  
Daria D. Mukhametzianova ◽  
Lilia A. Kharitonova
Keyword(s):  
Regression Analysis ◽  
Dynamic Analysis ◽  
Interest Rates ◽  
Residential Buildings ◽  
Weighted Average ◽  
Real Estate Market ◽  
Mortgage Lending ◽  
Russian Scientific ◽  
Statistical Dynamic ◽  
Lending Institutions

The presented work contributes to the development of the studies evaluating the key determinants of mortgage housing lending development in Russia. Despite a relatively well-developed body of research in the field of mortgage housing lending, devoted to revealing the essence, functional purpose, and implementation mechanism, the works, aimed at identifying the factors influencing its development in the current economic environment in Russia, are under-represented in the Russian scientific field. This study aims to assess the dynamics of mortgage housing lending in the contemporary economic conditions and to identify the determinants of its defining. The research methodology is based on the use of statistical dynamic analysis and correlation-regression analysis. The work is based on the application of methods of statistical dynamic analysis and correlation-regression analysis. Assessment of the dynamics has shown the general trend towards an increase in the volume of mortgage housing loans. However, some periods have been noted to have a negative dynamic primary related to the negative external environment and stagnation of the economy, due to the COVID-19 pandemic. Additionally, this article presents the assessment of the qualitative indicators characterizing the level of penetration and the degree of aggressiveness of lending institutions’ policies on housing mortgage lending. The authors have built a panel data model that has allowed identifying the key determinants of the development of residential mortgage lending in Russia. The results have revealed that the state of the mortgage lending sector in Russia is influenced by such factors, as the commissioning of residential buildings, the cost in the primary real estate market, weighted average interest rates, and the unemployment rate.

Cyclical capitalization and lag vacancy

2017 ◽  
Vol 10 (2) ◽  
pp. 211-238 ◽  
Author(s):  
Maurizio d’Amato
Keyword(s):  
Real Estate ◽  
Market Value ◽  
Real Estate Market ◽  
Mortgage Lending ◽  
Property Market ◽  
Content Type ◽  
The Real ◽  
The Real Estate ◽  
The Real Estate Market ◽  
Valuation Process

Purpose This paper aims to propose a new valuation method for income producing properties. The model originally called cyclical dividend discount models (d’Amato, 2003) has been recently proposed as a family of income approach methodologies called cyclical capitalization (d’Amato, 2013; d’Amato, 2015; d’Amato, 2017). Design/methodology/approach The proposed methodology tries to integrate real estate market cycle analysis and forecast inside the valuation process allowing the appraiser to deal with real estate market phases analysis and their consequence in the local real estate market. Findings The findings consist in the creation of a methodology proposed for market value and in particular for mortgage lending determination, as the model may have the capability to reach prudent opinion of value in all the real estate market phase. Research limitations/implications Research limitation consists mainly in a limited number of sample of time series of rent and in the forecast of more than a cap rate or yield rate even if it is quite commonly accepted the cyclical nature of the real estate market. Practical implications The implication of the proposed methodology is a modified approach to direct capitalization finding more flexible approaches to appraise income producing properties sensitive to the upturn and downturn of the real estate market. Social implications The model proposed can be considered useful for the valuation process of those property affected by the property market cycle, both in the mortgage lending and market value determination. Originality/value These methodologies try to integrate in the appraisal process the role of property market cycles. Cyclical capitalization modelling includes in the traditional dividend discount model more than one g-factor to plot property market cycle dealing with the future in a different way. It must be stressed the countercyclical nature of the cyclical capitalization that may be helpful in the determination of mortgage lending value. This is a very important characteristic of such models.

scholarly journals Mortgage and mortgage lending as a tool for financial recovery of the modern Russian economy

2021 ◽  
Vol 273 ◽  
pp. 08109
Author(s):  
Svetlana Rybak
Keyword(s):  
Real Estate ◽  
Practical Interest ◽  
Legal Regulation ◽  
Real Estate Market ◽  
Mortgage Lending ◽  
The Real Estate ◽  
Market Participants ◽  
Russian Economy ◽  
The Real Estate Market ◽  
Financial Recovery

The article is devoted to the institutional analysis of the problem of improving the legal regulation of mortgage relations in Russia in modern conditions in the presence of a rather limited financial capacity of the population in modern conditions to purchase real estate or housing. In this regard, the mortgage becomes the most necessary tool to ensure the socio-economic development of society, its stable and sustainable development. The formation of the property base currently generates a corresponding demand in the real estate market, and develops a corresponding interest among consumers in mortgage lending. At the same time, the emerging financial mechanism of mortgages also ensures the formation of the solvency of not only the population, but also other market participants, so that this market segment becomes not only in demand, but also successfully developed. Considering this problem, the author sought to update the scientific, theoretical and practical interest in this topic and to reveal the problems that hinder the development of mortgages as an important factor in the financial recovery of the modern market economy.

scholarly journals MORTGAGE LENDING MARKET IN THE RUSSIAN FEDERATION: CURRENT STATE, PROBLEMS AND PROSPECTS

2021 ◽  
Vol 2 (53) ◽  
pp. 72-78
Author(s):  
S.A. Starykh  ◽  
◽  
S.A. Lavoshnikova  ◽  
 A.D. Chesnokova ◽  
Keyword(s):  
Real Estate ◽  
Russian Federation ◽  
Real Estate Market ◽  
Mortgage Lending ◽  
Mortgage Market ◽  
The Real Estate ◽  
Financial Bubble ◽  
The Real Estate Market ◽  
The Russian Federation ◽  
The Impact

Subject. The market of mortgage housing lending in the Russian Federation. Topic. The impact of the coronavirus pandemic on the mortgage lending market. Purpose. Analyze the housing mortgage lending market in the Russian Federation and identify the reasons for its explosive growth in the 3rd and 4th quarters of 2020. Methodology. Methods of comparative analysis of the housing mortgage lending market in the Russian Federation. Results. The possibility of the formation of a financial bubble in the real estate market in Russia is studied, and the probable prospects for the development of the mortgage market are evaluated Application area. The mortgage lending market, including the behavior of borrowers (buyers in the housing market) and the activities of credit institutions. Conclusions. The article analyzes the housing mortgage lending market in the Russian Federation and identifies the reasons for its explosive growth in the 3rd and 4th quarters of 2020. The article examines the impact of the coronavirus pandemic on the mortgage lending market, including the behavior of borrowers (buyers in the housing market) and the activities of credit institutions. The possibility of the formation of a financial bubble in the real estate market in Russia is studied, and the probable prospects for the development of the mortgage market are evaluated. Keywords: mortgage lending, deferred demand, financial bubble, coronavirus pandemic, mortgage lending rate, key rate, average credit rating of the borrower, overdue debt, bankruptcy, reserves for possible losses.

scholarly journals Innovative approaches in the field of low–rise housing construction and digital transformation of investment and construction activities as the main focus of the All-Russian Housing Congress

2021 ◽  
pp. 6-10
Author(s):  
Pavel Kostrikin ◽  
Thuong Le Van ◽  
Anna Andreeva
Keyword(s):  
Real Estate ◽  
Information Technologies ◽  
Real Estate Market ◽  
Mortgage Lending ◽  
Housing Construction ◽  
The Real Estate ◽  
Adoption And Implementation ◽  
Project Life Cycle ◽  
The Real Estate Market ◽  
Project Life

This July, All-Russian Housing Congress brought together about five thousand participants, including specialists inhousing construction, real estate business, mortgage lending, information technologies, interregional transactions,education and training in the real estate market. Among the most relevant topics, discussed by the researchersand practitioners, the following ones can be highlighted: at present, the market of standard private housingconstruction is not mature enough, construction is mainly performed by the citizens themselves; the mortgagemarket, focused on this segment, is in its infancy; there is a need to introduce a standard for the integrateddevelopment of territories in respect of low-rise suburban housing construction, as due to its absence banksand investors do not have clear guidelines for assessing the investment attractiveness of projects; innovativeapproaches in the field of low-rise construction, latest methods of digitalization of investment and constructionactivities at all stages and levels of the project life cycle; developing a reliable mortgage lending mechanism forthis market segment; adoption and implementation of up-to-date standards for the integrated development of lowriseconstruction areas. According to the co-authors, the above-listed topics encompass the main directions forthe development of this industry.

STRUCTURAL AND DYNAMIC CHANGES IN THE COMMERCIAL REAL ESTATE MARKET UNDER THE INFLUENCE OF COVID-19

2021 ◽  
Vol 6 (200) ◽  
pp. 54-60
Author(s):  
E.S. Smolina ◽  
◽  
A.Yu. Vlasov ◽  
Keyword(s):  
Real Estate ◽  
Dynamic Analysis ◽  
Russian Federation ◽  
Real Estate Market ◽  
Commercial Real Estate ◽  
Key Factors ◽  
Dynamic Changes ◽  
Coronavirus Infection ◽  
The Russian Federation ◽  
The Impact

The article examines the impact of the new coronavirus infection on the commercial real estate market. A structural and dynamic analysis of the main indicators of the development of this market in the Russian Federation was carried out, the key factors of its development and the impact of the pandemic of a new coronavirus infection on it were determined.

scholarly journals HOUSING FUNDING FORMS AND METHODS: CHARACTERISTICS AND APPLICATION PROSPECTS

2019 ◽  
pp. 99-107
Author(s):  
Olena STASHCHUK
Keyword(s):  
Real Estate ◽  
Individual Case ◽  
Legal Framework ◽  
Real Estate Market ◽  
Mortgage Lending ◽  
Bank Loan ◽  
Housing Construction ◽  
Residential Real Estate ◽  
Advantages And Disadvantages ◽  
Retained Earnings

Introduction. The socio-economic development of Ukraine depends, among other things, on effective housing policies. The existing living conditions of the population require their improvement, and the low level of real incomes does not create the conditions for this. At the same time, the complexity of the mechanism of functioning of the residential real estate market requires the development of an effective housing policy, one of the directions of which is the optimization of sources of housing construction and further development of the legal framework for housing construction in Ukraine. The purpose of the article is to systematize forms and methods of financing housing construction, as well as identification of their advantages and disadvantages. Results. The results of the study have shown that an important condition for the development of the housing market in Ukraine is the availability of sufficient financial resources for developers to provide the necessary volume of construction of residential real estate. The systematization of financing methods has made it possible to identify those that are appropriate to apply in the housing construction process. These include: self-financing, credit financing, unit financing, budget financing, mixed financing. The advantages and disadvantages of using each of the methods of financing in the field of housing construction are substantiated. It is established that the most appropriate forms of housing finance are the following: retained earnings; accumulated reserves; issue of ordinary and preferred shares; bond loan; bank loan; mortgage lending; direct public financing; public-private partnership. Conclusions. Summarizing the above, it can be argued that when deciding on the method and form of housing financing, it is necessary to consider the advantages and disadvantages of each available financing instrument in each individual case of construction of a residential property.

Economy and real estate management

2020 ◽  
Author(s):  
Ekaterina SAVEL'EVA
Keyword(s):  
Real Estate ◽  
Undergraduate Students ◽  
Real Estate Market ◽  
Mortgage Lending ◽  
Federal State ◽  
The Real Estate ◽  
Wide Range ◽  
Estate Management ◽  
State Educational ◽  
Real Estate Management

The textbook examines the legal and financial aspects of the economy and real estate management, market analysis, real estate, investing (including project financing) and mortgage lending; the essence of development; principles and approaches to effective management of modern real estate, and also questions of technical exploitation and safety of buildings; current issues of taxation of real estate; methods of valuation of real estate. Meets the requirements of Federal state educational standards of higher education of the last generation. Designed for undergraduate students enrolled in fields of study 38.03.01 "Economics" (profile "Economics and management of real estate and investments", "Economy and property management") and 38.03.02 "Management" (specialization "Management of real estate"), as well as for students of other specialties, post-graduate students, teachers, beginners appraisers, analysts, specialists in consulting and a wide range of readers interested in the status and development prospects of the real estate market.

scholarly journals Real estate market in the time of pandemic: current trends and projections

2021 ◽  
pp. 51-62
Author(s):  
Irina Alekseevna Korostelkina ◽  
Nadezhda Vladimirovna Voronkova
Keyword(s):  
Real Estate ◽  
The United States ◽  
Real Estate Market ◽  
Mortgage Lending ◽  
The State ◽  
The Real ◽  
The Real Estate ◽  
Expert Opinions ◽  
The Real Estate Market ◽  
The Impact

The object of this research is the real estate market, while the subject of is the socioeconomic relations between all actors of the real estate market established in the context of implementation of restrictive measures due to COVID-19 pandemic. The authors examine the key theoretical aspects of the real estate market, analyze the dynamics in the housing (including premium segment), commercial, office and other property; make projections and align expert opinions on long-term development associated with the COVID-19 pandemic. Emphasis is placed on the impact of changes in mortgage lending with a lower interest rate under the State Support 2020 program development for the development of new-build property market. The following conclusions were made: paradoxicalness of the development of real estate market during the COVID-19 pandemic, in which the obvious negative factors did not lead to a drop in property prices; ambiguity of forecasts for the development of real estate market after the coronavirus pandemic, considering its consequences; situation on the real estate market of China, Hong Kong, and the United States during the coronavirus pandemic indicate similar development scenarios, while the premium segment prices differ significantly. The authors’ special contribution consists in aligning various expert opinions and assessments on the particular elements of real estate market (reinforced by the statistical data of different countries), and formulating a general conclusion on the state of this economic segment under the current conditions of pandemic.

Sign in / Sign up

Export Citation Format

Share Document