ANALYSIS OF FACTORS AFFECTING HOUSING AFFORDABILITY IN RUSSIA

2021 ◽  
pp. 103-111
Author(s):  
Елена Евгеньевна Тимофеева ◽  
Юлия Евгеньевна Острякова
Keyword(s):  
Real Estate ◽  
Affordable Housing ◽  
Real Estate Market ◽  
Housing Affordability ◽  
Housing Estate ◽  
Pricing Policy ◽  
Factors Affecting ◽  
The Real ◽  
The Real Estate ◽  
State Programs

Доступность жилья является очень многогранным понятием, отражающим социально-экономические процессы, происходящие в обществе, учитывающее ожидания населения и его доходы. Проведен анализ факторов, определяющих ценовую политику в секторе недвижимости. Выявленные факторы разделены на две группы: объективные и субъективные. К группе объективных факторов отнесены такие, которые зависят от макроэкономической ситуации, ситуации на рынке недвижимости и факторы, на которые не могут повлиять домохозяйства. К субъективным отнесены факторы, которые зависят от особенностей самих домохозяйств или могут быть ими изменены. Показано, что влияние выявленных факторов необходимо рассматривать комплексно, что обусловлено их взаимосвязью и непропорциональной взаимозависимостью. На примере мониторинга цен для Иваново показан существенный разброс цен в сегменте жилья как эконом-класса, так и бизнес-класса. Проведены примеры анализа влияния различных факторов на формирование стоимости жилья в различных категориях. Предложено разделение понятий доступное жилье» и «доступное комфортное жилье». В частности, при расчете критериев доступности жилья (независимо от методики расчета) следует брать в расчет среднюю цену за наиболее экономичные варианты новостроек. Приводится обоснование важности участия государства в формировании доступного жилья за счет регулирования доходов граждан, а также внедрения государственных программ поддержки граждан по приобретению жилья. Housing affordability is a very multifaceted concept that reflects the socio-economic processes in society, which take into account the expectations of the population and its income. We carried out analysis of the factors determining the pricing policy in the real estate sector. All identified factors are divided into two groups: objective and subjective. The group of objective factors included those ones that depend on the macroeconomic situation, the situation in the real estate market and which cannot be influenced by households. Subjective factors include the ones that depend on the households or can be changed by them. We show that the influence of the identified factors must be considered comprehensively, which is due to their interrelation and disproportionate interdependence. On the example of price monitoring for the city of Ivanovo (Russia), we demonstrate a significant variation in prices in the segment of housing estate, both economy and business class. We give some examples of the analysis of various factors influence on the formation of cost of housing estate in various categories. We offer differentiation of the concepts of affordable housing estate and affordable comfortable housing . In particular, when calculating the criteria for housing affordability (regardless of the calculation method), the average price for the most economical options for new buildings should be taken into account. As well we offer substantiation of the importance of state participation in the formation of affordable housing estate both by regulating the income of citizens and by introduction of state programs to support citizens in home buying.

scholarly journals Housing Affordability Index: Real Estate Market and Housing Situations

2014 ◽  
Vol 11 ◽  
pp. 527-535
Author(s):  
Leopoldo Sdino ◽  
Paola Castagnino
Keyword(s):  
Real Estate ◽  
Public Administration ◽  
Supply And Demand ◽  
Real Estate Market ◽  
Housing Affordability ◽  
Territorial Development ◽  
The Real ◽  
The Real Estate ◽  
Synthetic Index ◽  
The Real Estate Market

One of the main problems in defining strategies for the real estate market (whether in terms of planning and, therefore, in public administration, or whether of a considerably more speculative nature, and therefore, in the private sector) lies in the operator’s less than perfect knowledge of the aspects of supply and demand, due to the real estate market’s characteristics. The prerequisite to starting or sustaining virtuous dynamics in territorial development is knowledge of the real estate market, an area that has now been widely studied, in terms of the potential for economic, social and territorial development. This paper proposes the application of a synthetic index, the Housing Affordability Index (HAI), which was developed in detail at the municipality level to identify areas where housing is inadequate. The territorial scope includes Northwest regions of Italy, Liguria and Lombardy. HAI describes what happened and must then be understood conducing multi-disciplinary examinations, intended to explain why it happened.

scholarly journals Harnessing the Real Estate Market for Equitable Affordable Housing Provision through Land Value Capture: Insights from San Francisco City, California

2019 ◽  
Vol 11 (13) ◽  
pp. 3649 ◽  
Author(s):  
Nzau ◽  
Trillo
Keyword(s):  
Real Estate ◽  
San Francisco ◽  
Affordable Housing ◽  
Social Inclusion ◽  
Real Estate Market ◽  
Land Value ◽  
Value Capture ◽  
The Real ◽  
The Real Estate ◽  
The Real Estate Market

Affordable housing remains a serious problem in many countries. Even as the housing affordability crisis deepens, most cities continue to exhibit robust real estate markets with high property prices. The low-income and poor households are unable to access affordable housing and remain excluded. This paper draws from empirical research conducted in the city of San Francisco and focuses on the application of Land Value Capture (LVC) through increased Inclusionary Housing (IH) requirements after plan changes that increased density potential in San Francisco’s Eastern Neighbourhoods to evaluate its effects on the goals of increasing both affordable housing and social inclusion. Findings reveal that the increased inclusionary requirements used as LVC mechanism enabled 76.2% of all the affordable housing units produced in the Eastern Neighbourhoods to be produced by market-rate developers in 2011–2015 as compared to the rest of San Francisco, where 35.5% of the affordable units were produced from the market through inclusionary policy during the same period. The study demonstrates that upzoning underutilised land coupled with a well-planned LVC mechanism can help harness the strength of the real estate market and increase both affordable housing production and social inclusion.

scholarly journals FINANCIAL SUPPORT AND EFFICIENCY OF IMPLEMENTATION OF GOVERNMENT HOUSING ACCESSIBILITY PROGRAMS IN UKRAINE

2021 ◽  
Vol 5 (40) ◽  
pp. 178-183
Author(s):  
D. Shteingauz ◽  
A. Kuznyetsova ◽  
D. Achimovich
Keyword(s):  
Real Estate ◽  
Financial Support ◽  
Real Estate Market ◽  
Housing Affordability ◽  
The State ◽  
Residential Real Estate ◽  
Mortgage Loans ◽  
The Real Estate ◽  
Financial Leasing ◽  
State Programs

Abstract. The state of financial support of seven state programs of housing affordability, which currently operate in Ukraine, has been studied and analyzed. As a result, the most effective programs in terms of state aid and the average amount of state aid per recipient were identified. The main significant shortcoming in the implementation of state programs for housing affordability is their constant underfunding from the state budget, which hinders the manifestation of a synergistic positive effect. Deficit of budget funds and restrictions or complete refusal to allocate budget allocations to finance state support for housing affordability programs for various categories of the population negatively affect the state of development of the residential real estate market in Ukraine. This constrains both the demand and the supply of housing due to the lack of financial resources to cover the existing investment needs both at the construction stage and during the sale of already built residential real estate. The multiplier effect from the implementation of state programs of housing affordability on the revival of the real estate market by attracting citizens’ own funds to the construction industry is determined. The priority mechanisms for providing housing to Ukrainians are outlined: mortgage loans at 7% per annum with a down payment of 15% of the cost of housing and financial leasing at 5% without down payment, which are aimed primarily at supporting the population of Ukraine and strengthen protection of interest’s citizens. There is a need to improve financial and credit instruments that overcome the problem of lack of financial resources for the real estate market and help to quickly create the necessary residential real estate, taking into account the strategic interests of all participants — individuals (investors), developers, banks and non-bank financial institutions, state and local authorities, as well as local communities. Keywords: financial support, state program, investment projects, financial and credit instruments, mortgage loans, financial leasing, residential real estate market. JEL Classification G21 Formulas: 0; fig.: 1; tabl.: 1; bibl.: 10.

scholarly journals A new frontier in construction investments: Data Centres and technical factors affecting risk profile

2018 ◽  
Vol 251 ◽  
pp. 06009 ◽  
Author(s):  
Stefano Bellintani ◽  
Gianandrea Ciaramella ◽  
Alberto Celani
Keyword(s):  
Real Estate ◽  
Business Model ◽  
Real Estate Market ◽  
Risk Profile ◽  
Point Of View ◽  
Factors Affecting ◽  
The Real ◽  
The Real Estate ◽  
Minimum Quality Standards ◽  
Data Centres

The interest of Construction investors towards Data Centres is a novelty that however is not supported by an adequate level of knowledge of the technical characteristics that distinguish this particular building type. In fact, these are complex buildings, which are rarely dealt with in the literature (real estate and construction) and very different from the typical asset class of the real estate market, for which it requires a very high level of specialization. From an investor's point of view, although there are some reference standards that define some minimum quality standards, we need to widen our attention, focusing on all the technical / technological factors that influence the business model. The paper deals with this problem, trying to identify the different elements that influence the risk profile of the investment (thus omitting risk factors of another kind) and structuring them in clusters. Specifically, the paper focuses on the cost factors (passive cycle of the business model) that accompany the investment or the real estate asset “data centres” in its life cycle.

Study on Early-Warning and Forecasting System of Real Estate

2011 ◽  
Vol 403-408 ◽  
pp. 2473-2476
Author(s):  
Ji Jun Xiao ◽  
Xiao Jun Liu ◽  
Zhi Jian Gao
Keyword(s):  
Real Estate ◽  
Early Warning ◽  
Real Estate Market ◽  
Statistical Control ◽  
Property Market ◽  
Factors Affecting ◽  
The Real ◽  
The Real Estate ◽  
System A ◽  
Forecasting System

This paper presents the real estate early-warning and forecasting system developed to monitor and provide pre-warning to the user decision makers in the property market. The paper analyses essential factors affecting the real estate market, and build the conceptual model of the real estate early-warning and forecasting system. A statistical control 3 sigma criteria method has been developed, which can provide to compute the warning limit. In addition, the system framework model has been developed, which can provide a development idea to further design this system.

scholarly journals The Comparative Analysis of Real Estate Market Development Tendencies in the Baltic States

2018 ◽  
Vol 6 (1) ◽  
pp. 6-23 ◽  
Author(s):  
Inese Binovska ◽  
Linda Kauškale ◽  
Jānis Vanags
Keyword(s):  
Comparative Analysis ◽  
Real Estate ◽  
Real Estate Market ◽  
Housing Affordability ◽  
Market Development ◽  
Baltic States ◽  
The Real ◽  
The Real Estate ◽  
The Real Estate Market ◽  
The Baltic

Abstract The development of the real estate market contributes to the development of the national economy, thus creating a favourable investment climate for the investors. Increase in the level of the incomes of the inhabitants may increase the availability of housing in the country by fiscal and monetary policy instruments. The topicality of the paper is related to the need for analysis of the trends and prospects of the real estate market development of the Baltic States, as it has a high social meaning and has a high importance for market participants. The objective of the research is to analyse influencing factors and tendencies of real estate market development in Baltic States, and includes a comparative analysis of the residential property market in the Baltic States is conducted. The research methods used in the paper are statistical data analysis, historical and logical approach methods. The article focuses mainly on the housing market. It was concluded in the study that under the similar geographic and economic conditions in the Baltic States, the housing affordability index and real estate market development tendencies have many differences and success indicators are still varying.

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