Economic and Statistical Analysis of the Primary Housing Market of Moscow Region

The primary real estate market is not only one of the most illustrative indicators of economic development and one of the largest reserves of national savings, but also traditionally the most attractive investment asset market for the Russian population. Since the Moscow Region is the most anomalous and fastest growing region in the homogenous real estate market of the Russian Federation, it is the region that requires detailed study. The first part of the study presents various approaches to determining the statistical basis for assessing the primary real estate market. The next part of the paper includes a consideration of various universal indices and coefficients which are designed to give a full assessment of the size of the real estate market in the region. Finally, the main objective of this work is not only to analyse the market, but also to find a mathematical model of the influence of primary real estate pricing factors on its price. As a result, the OLS models of physical, geographical, economic and environmental factors were used. A multilevel regression was built to estimate the differences in flat prices in different residential complexes and neighbourhoods, and a flat clustering by value was carried out. Based on the models for each cluster, pricing patterns were formulated for the primary real estate market in the Moscow region.