Illegal renting of residential property as a sector of the informal economy

2021 ◽  
Vol 17 (2) ◽  
pp. 258-273
Author(s):  
Vasilii A. DADALKO ◽  
Denis A. KUZNETSOV
Keyword(s):  
Informal Economy ◽  
Real Estate Market ◽  
Control Measures ◽  
The Real Estate ◽  
Analysis And Synthesis ◽  
Fiscal Revenue ◽  
Pros And Cons ◽  
The Government ◽  
Tax Payments ◽  
Regional Budgets

Subject. Illegal renting of housing is a sector of the informal economy in the Russian Federation, which significantly damages regional budgets due to underpaid taxes from the activity. Objectives. I review the residential rent market and existing measures to counteract illegal instances. I also formulate what specifically may be done to legalize the activity, thus increasing fiscal revenue of regions. Methods. The study relies upon general and partial methods of research, such as analysis and synthesis, analogy, comparison, hypothesizing. Results. The study focuses on the statistics of the illegal renting of housing, analyzes the liability for the activity, identifies pros and cons for tenants and lessees in case of uncontracted relationships. I examine existing measures counteracting the sector of the informal economy. Conclusions and Relevance. Illegal renting of houses, among other thing, challenges the real estate market today. Certainly, people prefer to pay rental taxes, since the State does not have effective methods to trace wrongdoers, while respective bills and mechanisms are not intended to improve the position of tenants. To bring this informal sector to the legal ground, the government should contemplate what may be done to incentivize the registration of tenants’ income and further tax payments, rather than total control measures. To legalize the activity of tenants, the government should seriously revise the respective taxation treatment.

scholarly journals ‘Rigid demand’: Economic imagination and practice in China’s urban housing market

Urban Studies ◽  
2018 ◽  
Vol 55 (7) ◽  
pp. 1579-1594 ◽  
Author(s):  
Mengqi Wang
Keyword(s):  
Housing Market ◽  
Social Services ◽  
Urban Housing ◽  
Real Estate Market ◽  
Social Representation ◽  
Chinese Market ◽  
The Real Estate ◽  
Strong State ◽  
Economic Practice ◽  
The Government

China’s socialist market economy is predominated by strong state-owned sectors. In the real estate market, the government further controls land and regulates social services based on property ownership. But how do ordinary market actors perceive this configuration and strategise their economic practice accordingly? Based on 20 months of ethnographic fieldwork, this article explores buyers’ and estate agents’ imagination of and practice in the housing market with a focus on the folk concept of rigid demand. Rigid demand (gangxu) refers to the belief that people have to buy a home regardless of price. Presenting how people invoke a range of referents and contexts when talking about rigid demand, I show that common Chinese market actors understand and approach the housing market not as an end in itself but as a mechanism devised and maneuvered by big market players such as the government and developers. Furthermore, actors believe that the market has a social purpose and is susceptible to agentive interventions. Ultimately, I argue that the social representation of the socialist housing market constructs and contests the legitimacy of certain economic practices and influences market performance accordingly.

Residential Policy in Market Economies

Equilibrium ◽  
2009 ◽  
Vol 2 (1) ◽  
pp. 147-157 ◽  
Author(s):  
Małgorzata Kędzierska
Keyword(s):  
Real Estate ◽  
Family Life ◽  
Real Estate Market ◽  
Advanced Economy ◽  
The Real Estate ◽  
Living Space ◽  
The Real Estate Market ◽  
The Family ◽  
The Government ◽  
Stimulation Of

Living space plays an important role in the hierarchy of human everyday requirements. Not only does it alleviating the basic requirements, but also those of the superior rows. The proper residential conditions are the foundation of the development of the family life and, in the wider context, the whole societies. Consequently, residential requirement are of particular interest to the state, in fact, in modern advanced economy, the residential problem should be regarded as a preemptive public task. However, it does not mean that the government is obliged to substitute for the citizens in their aspirations to own an apartment. To the contrary, its role should concentrate on regulation rather than stimulation of the real estate market.

scholarly journals Price Bubbles in the Real Estate Markets - Analysis and Prediction

2022 ◽  
Vol 19 ◽  
pp. 292-303
Author(s):  
Paweł Dec ◽  
Gabriel Główka ◽  
Piotr Masiukiewicz
Keyword(s):  
Real Estate ◽  
Predictive Analytics ◽  
Real Estate Market ◽  
Point Of View ◽  
Subprime Crisis ◽  
The Real ◽  
The Real Estate ◽  
Price Bubbles ◽  
The Real Estate Market ◽  
The Government

The article concerns the issue of price bubbles on the markets, with particular emphasis on the specificity of the real estate market. Up till now, more than a decade after the subprime crisis, there is no accurate enough method to predict price movements, their culmination and, eventually, the burst of price and speculative bubbles on the markets. Hence, the main goal of the article is to present the possibility of early detection of price bubbles and their consequences from the point of view of the surveyed managers. The following research hypothesis was verified: price bubbles on the real estate market cannot be excluded, therefore constant monitoring and predictive analytics of this market are needed. In addition to standard research methods (desk research or statistical analysis), the authors conducted their own survey on a group of randomly selected managers from Portugal and Poland in the context of their attitude to crises and price bubbles. The obtained results allowed us to conclude that managers in both analysed countries are different relating the effects of price bubbles to the activities of their own companies but are similar (about 40% of respondents) expecting quick detection and deactivation of emerging bubbles by the government or by central bank. Nearly 40% of Polish and Portuguese managers claimed that the consequences of crises must include an increased responsibility of managers for their decisions, especially those leading to failures.

scholarly journals Possible Focus Areas of Government Regulation of the Real Estate Market

2018 ◽  
Vol 28 (3) ◽  
pp. 508-516 ◽  
Author(s):  
Boris Bedin
Keyword(s):  
Real Estate ◽  
Government Regulation ◽  
Real Estate Market ◽  
The State ◽  
Residential Real Estate ◽  
The Real ◽  
The Real Estate ◽  
Meaningful Participation ◽  
The Real Estate Market ◽  
The Government

The housing problem is relevant for many countries, including Russia. The solution of this problem is impossible without active and meaningful participation by the state. The residential real estate market has specific characteristics that significantly distinguish it from other markets. The article highlights the features of the residential real estate market as an object of government regulation. The author describes specific features of the government as a subject of management of the residential real estate market, substantiates rationale for the active participation of the state in the management of the real estate market, and outlines possible directions of government regulation of the residential real estate market. The author also describes the Russian experience of implementing certain measures in the framework of direct and indirect forms of government regulation of the residential real estate market as well as the results of such events.

scholarly journals Analysis on the Regulatory Effect of Financial Policies on China’s Real Estate Market

2020 ◽  
Vol 5 (3) ◽  
pp. 197
Author(s):  
Haisheng Hu
Keyword(s):  
Real Estate ◽  
Real Estate Market ◽  
Regulatory Effect ◽  
Financial Policies ◽  
Control Policies ◽  
The Real ◽  
The Real Estate ◽  
The Real Estate Market ◽  
The Government ◽  
Stable Development

<p>To deal with the negative problems emerged in the rapidly developing real estate market in the recent years, the government of China has put forward some corresponding financial policies, which aimes to regulate the real estate market macroscopically. Based on this, this article analyzes the regulatory effect of financial policies on the real estate market. Starting with the necessity of macro-control policies and combining with the actual conditions, it expounds the financial policies adopted in China in recent years and the achieved results. Meanwhile, this article puts forward some specific strategies to strengthen the regulatory effect in order to promote the stable development of the real estate market.</p>

scholarly journals Effect Analysis of Real Estate Price and Monetary Policy: An Empirical Study Based on China Macroeconomic Data

2018 ◽  
Vol 5 (2) ◽  
pp. 158 ◽  
Author(s):  
Liang Su ◽  
Li Lin ◽  
Shaozhen Chen ◽  
Lin Li
Keyword(s):  
Monetary Policy ◽  
Real Estate ◽  
Real Estate Market ◽  
Housing System ◽  
Effect Analysis ◽  
The Real Estate ◽  
The Real Estate Market ◽  
Fiscal Revenue ◽  
Real Estate Prices ◽  
Effect Of Monetary Policy

Since the reform of the housing system in 1998, China's real estate market has been gradually marketized. A large number of demand-side purchases that were suppressed by the planned economy were released. The rapidly rising real estate prices affected the People's Bank of China's monetary policy through Tobin's Q and the financial accelerator. This paper establishes a VAR model to analyze the policy factors and find out “land finance” has promoted the rise of real estate prices to a certain extent and the regulation of the real estate market lags behind; real estate prices can interfere with the effect of monetary policy which rising real estate prices increase the uncertainty of monetary policy. Finally, this paper puts forward policy suggestions of the monetary policy and local fiscal revenue.

Some Evidence from Japan on the Efficiency of Land Markets

1977 ◽  
Vol 9 (9) ◽  
pp. 975-984 ◽  
Author(s):  
D R Vining ◽  
H Hiraguchi
Keyword(s):  
Average Rate ◽  
Real Estate Market ◽  
Future Price ◽  
Land Markets ◽  
Rapid Rate ◽  
The Real Estate ◽  
Land Prices ◽  
Average Return ◽  
Government Data ◽  
The Government

When an investor enters the real-estate market, can he detect a profitable parcel of land simply by observing how its price (or, more realistically, prices of like parcels in its general vicinity) has behaved in the immediate past? For example, if we observe land prices in a certain area of a city or even of a country to be rising at a rapid rate, is it reasonable to expect prices there to continue to rise at this rapid rate? If so, the market is said to be ‘inefficient’. Current prices in that market do not fully capitalize expected future price changes. This paper asks if the Tokyo land market is inefficient and concludes that it is. If the government data on this market can be trusted, there are wide divergences in mean rates of appreciation across parcels that cannot be explained by differences in risk and that are not being closed through arbitrage. It appears that an investor in land can make an above average return on his funds by discovering where land prices have been rising at an above average rate and by investing in land in this area. If sustained by similar analyses of other land markets, this finding will give quantitative content to land economists' intuition that land markets are different from other speculative markets (for example, the stock and commodities markets), which are well known to be highly efficient.

scholarly journals Contorno Norte: reflexos da obra sobre o Conjunto Habitacional Requião em Maringá, PR, Brasil

Terr Plural ◽  
2019 ◽  
Vol 13 (3) ◽  
pp. 296-312
Author(s):  
Tatiana Kaori Abe ◽  
Priscilla Borgonhoni Chagas
Keyword(s):  
Real Estate Market ◽  
Decision Making Process ◽  
Negative Consequences ◽  
Popular Participation ◽  
The Real Estate ◽  
Government Growth ◽  
The Road ◽  
The Real Estate Market ◽  
Housing Complex ◽  
The Government

This study analyzed the effects of Contorno Norte settlement for residents of the Requião Housing Complex in the medium city of Maringá, applying resources from the government Growth Acceleration Program (PAC). The road intervention had negative consequences for the neighborhood since there was a change in the initial project. Delays in execution, lack of adaptability to local transformations, and non-popular participation in the decision-making process about the construction of the work, as dictated by the law for high-impact works, are pointed as aspects resulting from the construction of the Contour. The work was more related to the interests in creating new spaces for the real estate market and to favor projects designed by the Government.

scholarly journals Digital and online technology changing the real estate market in Russia

2021 ◽  
pp. 34-88
Author(s):  
Yulia Boriskina
Keyword(s):  
Real Estate ◽  
Information Technologies ◽  
Digital Signatures ◽  
Real Estate Market ◽  
Electronic Government ◽  
The Real ◽  
The Real Estate ◽  
Online Technologies ◽  
The Real Estate Market ◽  
The Government

The real estate market has to respond quickly to all global and local changes, such as the development of digital technologies, new legislation, the COVID-19 pandemic, and shrinking demand, and each major market player reacts accordingly. The government announces a new strategy in an effort to have information technologies introduced by its official agencies and the population and establish an electronic government system. Developers launch virtual sales and 3D tours, willing to attract new buyers from distant locations, cooperate with banks and provide assistance in obtaining digital signatures. Banks offer new services by consolidating online property search engines and mortgage issuance. SberBank’s DOMclick service is described in the article in detail. Evenconservative notaries have joined the process: now they can notarize online deals and register electronic purchase and sale contracts.Online deals have several steps: choosing and visiting the property, entering into a preliminary contract and making an advance payment, performing the due diligence, preparing for the deal, having a mortgage issued and the deal registered, and now each step can be made online.Changes have affected both sales contracts and rental agreements. A leading Internet company has chosen to rent properties only from those landlords, who register rental agreements on its platform in the capacity of partners and have digital signatures to sign their electronic contracts.New services have become possible thanks to the development of new digital and online technologies, new tools appear to meet the market needs. Although some risks arise at certain stages, online technologies have been successfully adopted by the real estate market.

Vietnam is at risk of real estate bubble

2019 ◽  
Keyword(s):  
Real Estate ◽  
Urban Areas ◽  
Real Estate Market ◽  
Content Type ◽  
The Real Estate ◽  
Real Estate Bubble ◽  
Global Recession ◽  
Real Estate Sector ◽  
Growing Economy ◽  
The Government

Subject Headwinds in Vietnam's real estate sector. Significance Much of the foreign investment flowing into Vietnam’s fast-growing economy is being directed at the real estate sector, especially high-end condominiums. There are indications that the government may curb foreign ownership of these luxury apartments, but the units are currently priced far above what most local people can afford. Impacts Some investors may respond to falling prices by holding on to their apartments, which would leave many residences empty in urban areas. If property demand declines, Vietnam’s central bank may turn to monetary loosening to make home loans more attractive. Vietnam’s real estate market would be vulnerable to a downturn in the event of a global recession.

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