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Regional Analysis of Real Estate Market in Russia

ФИО студента: Shnukalo Ekaterina

Руководитель: Elena V. Semerikova

Кампус/факультет: Faculty of Economic Sciences

Программа: Economics (Bachelor)

Год защиты: 2020

The real estate market in Russia is one of the fastest growing sectors of the economy. This segment of the economy creates many workplaces and is attractive for investment. Its development is important for improving the well-being of society. The study examines the pricing of regional primary and secondary residential markets, establishes what factors influence the price and whether there are significant differences between these markets. It also examines whether there is a significant impact of changes in the price determinants of neighbouring regions on the property price of the main region. There is a sufficient amount of research devoted to the search for factors influencing prices on the real estate market. But for the most part they ignore spatial heterogeneity, reflecting only "average hospital temperature", which leads to biased results. This study will build an econometric model (based on panel data) with spatial effects included. The results will be explained through the analysis of economic relationships. The main determinants will also be identified, on which further forecasts of the regional real estate markets can be made. Free market relations and, accordingly, the opportunity to buy an apartment have appeared in Russia relatively recently, so the study uses data from 2002until 2018. The data were obtained from electronic resources of the Federal State Statistics Service.

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