Year of Graduation
Real Estate Prices Determinants in Russia
Despite the fact that residential real estate plays a significant role in distribution of personal income and the formation of public wealth its pricing mechanism is still underinvestigated. This research is devoted to finding fundamental factors of housing price formation process and to modeling equilibrium states of the market on Russian region-level data with help of structural approach of data-processing. As a result the theoretical model including demand and supply function specification was developed and core price drivers were outlined. The relevance of the model was proved on empirical data covering a long period of time including at least two business cycles.