ANALYSIS OF THE FACTORS OF HOUSING COST FORMATION DURING THE TRANSITION TO PROJECT FINANCING OF HOUSING CONSTRUCTION

Authors

  • Elena V Kuchina South Ural State University, Chelyabinsk
  • Larisa S Morozova South Ural State University, Chelyabinsk

Keywords:

housing construction, financing, forecasting, housing cost, price dynamics.

Abstract

The article considers the current problems of financing the housing construction in Russia from the perspective of its development, and emphasizes the social component, specifically the possible affordability of housing for the population. They have authors identified the main problems in the field of housing construction related to the imperfection of financial mechanisms, the difficulty of attracting investors, and low affordability of housing for the population due to its high cost. A review of the methods of financing the housing construction most frequently used in Russian practice has been made. The problems of participatory construction as the main form of financing the housing construction in the regions have been considered. The withdrawal from participatory construction and transition to project financing of the housing construction as the least risky option to purchase housing have been justified. The positive and negative consequences of this step have been considered with regard to the possible rise in cost of housing in the primary market. A correlation analysis of the market value of housing has been carried out, and factors affecting its formation have been identified, using the example of the Chelyabinsk Region. Recommendations have been developed on reducing the cost of construction being the main factor affecting the formation of housing prices. The forecast of changes in the price of the residential real estate has been made, which allows to take into account any number of factors that affect the base indicator.

Author Biographies

Elena V Kuchina, South Ural State University, Chelyabinsk

Doctor of Sciences (Economics), Professor at the Department of Finance, Supply, and Credit

Larisa S Morozova, South Ural State University, Chelyabinsk

Candidate of Sciences (Economics), Associate Professor at the Department of Finance, Supply, and Credit

References

Матайбаева Г.Ж. Основные модели жилищного финансирования // Экономические науки. Финансы и банковское дело. – http://www.rusnauka.com /4_SND_2012/Economics/3_99826.doc.htm.

Левин Ю.А. Поиск альтернативных схем финансирования жилищного строительства // Финансы. – № 6. – 2015. – С. 16–19.

Фролова В.Б., Саркисян Е.Р. Актуальные проблемы финансирования жилищного строительства // Современные научные исследования и инновации. – 2014. – № 11-2(43). – С. 147–151.

Горбова И.Н., Караева Е.Н., Туряница Е.А. Направления и перспективы на рынке жилой недвижимости России // Вестник ОРЕЛГИЭТ. – 2017. – № 4(42). – С. 138–141.

Taejun Lim. Growth, financial development,

and housing booms // Economic Modelling. – September, 2017.

Kim Hiang Liow, Graeme Newell. Real estate global beta and spillovers: An international study // Economic Modelling. – Dec. 2016. – V. 59. – P. 297–313.

Gathergood John, Weber Jörg Financial literacy, present bias and alternative mortgage products // Journal of Banking & Finance. – May 2017. – V. 78. – P. 58–83.

Laurin, Alain and Giovanni Majnoni. Bank Loan Classification and Provisioning Practices in Selected Developed and Emerging Countries. – Washington, D.C., World Bank Working Papers, 2003.

Об участии в долевом строительстве многоквартирных домов и иных объектов недвижимости и о внесении изменений в некоторые законодательные акты РФ: ФЗ № 214 от 30.12.2004 (ред. от 31.12.2017).

Frank Gyamfi-Yeboah, David C.Ling, Andy Naranjo. Information, uncertainty, and behavioral effects: Evidence from abnormal returns around real estate investment trust earnings announcements // Journal of International Money and Finance. – November 2012. – V. 31, Iss. 7. – P. 1930–1952.

Jialin Huang, Zhao Rong. Housing boom, real estate diversification, and capital structure: Evidence from China // Emerging Markets Review. – September 2017. – V. 32. – P. 74–95].

Гузикова Л.А., Плотникова Е.В., Керимова Л.Р. Экспресс-анализ практики финансирования жилищного строительства в Санкт-Петербурге // Глобальный научный потенциал. – 2017. – № 6(75). – С. 58.

Регионы России. Социально-экономические показатели. – http://wwwgks.ru/ (дата обращения 06.03.2018).

Published

2019-01-27

Issue

Section

Economics and finance