Status and Specifics of the Housing Market in the Arctic Regions of Russia

Annotation

This paper aims to analyze and identify the specifics of housing industry development in the regions of the Arctic zone of the Russian Federation using methods of comparative, analysis, statistical methods of grouping indicators, the method of scoring points. In the course of the work, an analysis of economic indicators of the housing market development, an assessment of the population's effective demand for housing. The main trends in the housing market development in the arctic regions were identified. The results show insufficient and uneven rates of construction of housing, a high share of emergency housing, and low investment in the housing industry in some regions. A disparity was observed between real estate prices and the population income because the population debt burden on the housing credit is quite high. According to the developed by the authors’ method of assessing the housing market based on selected indicators, the main problems are characterized and the development of the housing market in the arctic regions is assessed. It was found that in some regions the level of economic indicators of housing market development and the population's solvency significantly lags the Russian trends. The results have practical significance for the federal and regional authorities in creating housing policies and the implementation programs of national projects in the sphere of housing affordability, the main directions which should be demographic to attract and increase the resident population in the Russian Arctic, as well as the regulatory functions of the housing market by reducing interest rates and stimulating the construction industry development.

About authors

Elena E. EMELYANOVA, Cand. Sci. (Econ.), senior researcher
Luzin Institute for Economic Studies, Apatity, Russia

Anastasiya N. CHAPARGINA, Cand. Sci. (Econ.), senior researcher
Luzin Institute for Economic Studies, Apatity, Russia

Keywords

the housing market, the Arctic regions, the solvency of population, trends of development

DOI

10.37482/issn2221-2698.2020.40.26

UDC

332.85(985)(045)