scholarly journals PROJECT FINANCING HOUSING CONSTRUCTION IN RUSSIA: RESULTS AND PROSPECTS

2021 ◽  
pp. 30-38
Author(s):  
N. I. Glotova
Keyword(s):  
Construction Industry ◽  
Affordable Housing ◽  
Significant Contribution ◽  
Mortgage Lending ◽  
Housing Construction ◽  
Russian Regions ◽  
Project Financing ◽  
Social Significance ◽  
The Past ◽  
Socio Economic Development

Housing construction is one of the main directions of the construction industry, while being a powerful driver of investment and consumer demand. It has a priority social significance and makes a significant contribution to the development of the economy. Currently, in Russia, an increase in the volume of housing construction and the formation of an affordable housing market through the development of mortgage lending is one of the priority tasks of socio-economic development. Over the past three years, Russia has maintained a stable positive dynamics of housing commissioning. According to preliminary estimates, the targets set by the national project have been exceeded. The article discusses the mechanism of transition of housing construction to project financing. The dynamics of opening escrow accounts in the context of Russian regions is analyzed. The assessment of the implementation of the preferential mortgage program in housing construction was carried out. The necessity of further improvement of the housing lending mechanism in modern conditions with the use of state support instruments is argued.

scholarly journals Potential Implementation of Lightweight Steel Panel System in Affordable Housing Project: Developers Perspective

2020 ◽  
Vol 11 (3) ◽  
Author(s):  
Misriyanti Saikah ◽  
◽  
Narimah Kasim ◽  
Rozilah Kasim ◽  
◽  
...  
Keyword(s):  
Construction Industry ◽  
Affordable Housing ◽  
Housing Price ◽  
Housing Demand ◽  
Housing Quality ◽  
Housing Construction ◽  
Housing Project ◽  
Middle Income ◽  
Steel Panel ◽  
Lightweight Steel

Utilization of Industrialized Building System (IBS) becomes increasingly dominant in the construction of affordable housing in Malaysia. Theoretically, utilization of IBS system can benefit to reduce the affordable housing price due to the less labor involvement and short constructions time. However, current IBS usage in housing construction still cannot fulfill the affordable housing demand especially in term of price and housing quality. Recent study reveals the lack adoption of IBS component in construction industry mainly caused by poor perception among stakeholder toward the system. Hence, some alterations in the supply of the IBS component essential to being prepared in order to reach the price target to permit all middle-income groups to own the quality house. Construction industry also can explore the other types of IBS system focusing on lightweight types such as wood or steel system which clearly could give benefit to the housing industry on faster works and high housing quality. Due to strong and durable characteristic of lightweight steel panel, it can be seen as an alternative component to be explored to enhance construction practices of affordable housing project. Therefore, the main purpose of this study is to identify the potential of lightweight steel panel system to be implemented for affordable housing project. Accordingly, for the highlight in reducing affordable housing price integrate with provision of good quality housing this research focus on feedback from developer about the proposed lightweight steel panel system. This research conducted an interview with six project managers with more than three years working experience in housing construction project at South of Peninsular Malaysia. Developer’s experience in affordable housing project mainly for landed house is coinciding because of lightweight steel panel system suitability for not more than two stories house. The result reveals that, respondent prefer to the advantages of lightweight steel panel system in term of faster installation works, low maintenance work, flexibility and smart construction. In conclusion, the ability of the system to decrease housing price at the same time sustain the desired quality of housing will increase ability and satisfaction for middle-income earner to own the house.

From central to marginal: The trajectory of Israel’s public-housing policy

Urban Studies ◽  
2016 ◽  
Vol 54 (11) ◽  
pp. 2432-2447 ◽  
Author(s):  
Ravit Hananel
Keyword(s):  
Public Housing ◽  
Housing Policy ◽  
Affordable Housing ◽  
Housing Construction ◽  
Land Uses ◽  
Housing Crisis ◽  
Housing Policies ◽  
Housing Developments ◽  
The Past ◽  
Urban Diversity

Over the past decade, in the wake of the global housing crisis, many countries have again turned to public housing to increase the supply of affordable housing for disadvantaged residents. Because the literature and past experience have generally shown public-housing policies to be contrary to the urban-diversity approach, many countries are reshaping their policies and focusing on a mix of people and of land uses. In this context, the Israeli case is particularly interesting. In Israel, as in many other countries (such as Germany and England), there was greater urban diversity in public-housing construction during the 1950s and 1960s (following the state’s establishment in 1948). However, at the beginning of the new millennium, when many countries began to realise the need for change and started reshaping their public-housing policies in light of the urban-diversity approach, Israel responded differently. In this study I use urban diversity’s main principles – the mix of population and land uses – to examine the trajectory of public-housing policy in Israel from a central housing policy to a marginal one. The findings and the lessons derived from the Israeli case are relevant to a variety of current affordable-housing developments in many places.

scholarly journals Implementation of low-rise construction projects as factor of improving level and quality of life in depressed territories

2020 ◽  
Vol 80 ◽  
pp. 01006
Author(s):  
Natalya Gusakova ◽  
Nikolay Minaev ◽  
Alexander Gusakov
Keyword(s):  
Construction Industry ◽  
Affordable Housing ◽  
Rural Areas ◽  
Construction Projects ◽  
Small Towns ◽  
Standard Of Living ◽  
Housing Construction ◽  
Young Professionals ◽  
Development And Validation

The conducted research was devoted to the development and validation of criteria for low-rise housing construction in small towns and rural areas remote from major cities. The purpose of the research is to develop fundamental criteria that allow achieving a synergistic effect based on integrated development of a territory, together with improvement of standard of living and creation of comfortable conditions for the population. This research can be applied in design of programs for development of construction industry, including low-rise construction. Scientific merit of the article lies in the fact that the developed criteria make it possible to identify the main features of efficient low-rise housing construction: comfort, safety, energy efficiency, modernity of engineering equipment. These features are able to ensure construction of such energy-efficient low-rise comfortable and affordable housing, which will contribute to sustainable development of a region and make small towns and villages attractive for young professionals and young families.

ASSESSMENT OF RUSSIAN REGIONS SOCIO-ECONOMIC ASYMMETRY (BASED ON DATA FROM MOSCOW AND MOSCOW REGION, TULA AND YAROSLAVL REGIONS)

2020 ◽  
Vol 10 (8) ◽  
pp. 1657-1670
Author(s):  
A.V. Minakov ◽  
Keyword(s):  
Economic Development ◽  
Regional Development ◽  
Housing Stock ◽  
Mortgage Lending ◽  
Government Support ◽  
Transport Infrastructure ◽  
Federal State ◽  
Positive Trend ◽  
Russian Regions ◽  
Socio Economic Development

The aim of the study, the results of which are presented in this article, was to study the socio-economic asymmetry of Russian regions. The relevance of the research topic lies in the fact that regional asymmetry in the system of socio-economic relations is considered as one of the main threats to the regional development of Russia. At the level of the federal state and its regions, certain territorial differences in the use of their resource potential can be traced, which leads to significant interregional and intraregional asymmetries in the levels of socio-economic development of territories. Among the priorities for minimizing the manifestations of regional development risks in modern conditions is the introduction of a new regional economic policy, the basis of which should be recognized the formation and activation of “growth points” and using effective tools that can reveal the potential of regions for creating the “multiplier effect” in the socio-economic development at the interregional level. Analyzing socio-economic indicators, the author was able to identify a general positive trend in the increase of the average monthly nominal wages, the volume of tax revenues, fees and other obligatory payments to the regional budgets, as well as the turnover of trade and the volume of paid services to the population in the previous year. The author proposes a refined concept of “asymmetry”, studies the causes and consequences of asymmetry in the socio-economic development of regions, and determines the indicators characterizing the inequality of regional development. The article provides a comparative analysis of the socio-economic development of individual regions of the Central Federal District; it gives recommendations for leveling the socio-economic development of Russian regions, which will allow the Government of the Russian Federation to reduce in the future the lag of economically less developed regions from more developed ones. These recommendations are: development of transport infrastructure, increasing the electricity and gasification of areas remote from the center of the country rich in minerals, a significant increase in the housing stock, through preferential mortgage lending with government support and in the development of agglomerations, calling in them, mainly, the Russian-speaking population from neighboring countries, by issuing passports and citizenship in a simplified procedure.

scholarly journals Project financing of housing construction: domestic and foreign experience

2020 ◽  
Vol 17 (4) ◽  
pp. 219-230
Author(s):  
O. Yu. Bochkareva ◽  
Keyword(s):  
Comparative Analysis ◽  
Construction Industry ◽  
Russian Federation ◽  
Construction Project ◽  
Housing Construction ◽  
Project Financing ◽  
Foreign Experience ◽  
Supervisory Authority ◽  
Construction Organizations ◽  
The Russian Federation

Since July 1, 2019, the construction industry of the Russian Federation has switched to project financing of housing construction. In this regard, developers must provide financing of construction by using the owned and credit assets. According to this model, banks act as credit providers, as well as a supervisory authority for the appropriate expenditures of funds targeted to the project from special escrow accounts. The article discusses the concept of project financing, its main forms and types. A comparative analysis of domestic and foreign practice of project financing is made, and statistics data of transition of construction organizations to this model are presented. The system of interaction between the main participants of the construction project, namely, the consumer, the developer, the bank, is studied.

scholarly journals Strategies of developers to housing supply within framework of project financing

2021 ◽  
Vol 112 ◽  
pp. 00012
Author(s):  
Olga V. Grushina ◽  
Natalya N. Shelomentseva
Keyword(s):  
Interest Rates ◽  
Affordable Housing ◽  
Housing Construction ◽  
Construction Sector ◽  
Construction Process ◽  
Project Financing ◽  
National Goal ◽  
Construction Organizations ◽  
Consumer Population ◽  
The Cost

The problem of providing comfortable and affordable housing for Russian citizens as a national goal has gained an impetus to solution after the introduction at the legislative level of project financing for housing construction using escrow accounts. The application of this new method of financing to the decision-making algorithm of a developer requires mathematical modeling of the economic ratios of the main indicators of the developer’s activities, taking into account the interests of other subjects in the housing construction sector: banks and population. The approach proposed by the authors is aimed primarily at expanding the supply in the housing market. We have formalized the possible sale strategies of the developer using a matrix approach in varying prices and the number of meters sold at different stages of construction, as well as interest rates for bank crediting, depending on the degree of escrow accounts accumulation. Testing the model has shown that developers should face serious problems related to increasing the cost of replenishing working capital for the construction process, which will inevitably be included in the price per square meter of housing and paid by the consumer (population). At the same time, banks become the main controllers and beneficiaries of the project financing. The model developed and tested by the authors will allow construction organizations to overcome the first difficulties of project financing application and competently and consistently make a choice of a strategy for offering housing to buyers, taking into account the variability of the economic parameters of all parties.

scholarly journals WAYS TO IMPROVE THE EFFICIENCY OF INVESTMENT IN HOUSING CONSTRUCTION AND MORTGAGE LENDING

2020 ◽  
pp. 604-609
Author(s):  
А.А.Mirisaev ◽  
Sh. Sh. Rajapov
Keyword(s):  
Real Estate ◽  
Affordable Housing ◽  
Real Estate Market ◽  
Mortgage Lending ◽  
Housing Construction ◽  
Housing Cost ◽  
Investment Climate ◽  
Actual Problem ◽  
Housing Investment ◽  
Consumer Lending

ABSTRACT This article is devoted to the actual problem of attracting investment in housing construction, and also examines the current practice of evaluating the effectiveness of investment and mortgage lending in housing construction. KEYWORDS: housing, housing construction, real estate market, real estate, affordable housing, investment, investment and construction complex, investment climate, consumer lending, mortgage, mortgage lending, securitization of mortgage assets, housing cost.

Integrated Assessment of Socio-Economic Development of Rural Areas, Taking into Account Differences in Population Density

2020 ◽  
pp. 76-83
Author(s):  
N.N. Balashova ◽  
◽  
D.A. Korobeynikov ◽  
S.A. Popova ◽  
◽  
...  
Keyword(s):  
Sustainable Development ◽  
Economic Development ◽  
Population Density ◽  
Rural Areas ◽  
Rural Population ◽  
Integrated Assessment ◽  
Russian Regions ◽  
Socio Economic Development

Typologization of rural areas, taking into account differences in population density and level of socio-economic development, is necessary to identify “growth points” and strategic sustainability benchmarks. The method of integrated assessment of the level of socio-economic development of rural territories is proposed, according to which the grouping of Russian regions is carried out. Applying data on rural population density to the results of calculations allowed us to identify 12 typological groups, in the context of which unified recommendations on sustainable development of territories should be formed.

scholarly journals Industrial legislation in Australia, 2020

2021 ◽  
pp. 002218562110082
Author(s):  
Eugene Schofield-Georgeson
Keyword(s):  
Social Welfare ◽  
Labour Market ◽  
Federal Government ◽  
Construction Industry ◽  
Workers Compensation ◽  
State Governments ◽  
The Past ◽  
Wage Theft ◽  
Economic Stimulus ◽  
Liberal Government

In 2020, the Federal Morrison Liberal Government scrambled to respond to the effects of the international coronavirus pandemic on the Australian labour market in two key ways. First, through largescale social welfare and economic stimulus (the ‘JobKeeper’ scheme) and second, through significant proposed reform to employment laws as part of a pandemic recovery package (the ‘Omnibus Bill’). Where the first measure was administered by employers, the second was largely designed to suspend and/or redefine labour protections in the interests of employers. In this respect, the message from the Federal Government was clear: that the costs of pandemic recovery should be borne by workers at the discretion of employers. State Labor Governments, by contrast, enacted a range of industrial protections. These included the first Australia ‘wage theft’ or underpayment frameworks on behalf of both employees and contractors in the construction industry. On-trend with state industrial legislation over the past 4 years, these state governments continued to introduce industrial manslaughter offences, increased access to workers’ compensation, labour hire licensing schemes and portable long service leave.

Sign in / Sign up

Export Citation Format

Share Document