On new tasks of state management of processes related to the solution of the housing problem

Recommended link to article:

MIKHAIL Y. VIKTOROV^а
NIKOLAY V. KAZANSKY^а

^аRussian Presidential Academy of National Economy and Public Administration

DOI: 10.22394/2070-8378-2019-21-6-72-77

Abstract:
Modern context of housing solutions introduced in May by Presidential Decree is mainly focused on two issues: shared construction participants’ rights provision and shift towards project financing. The state and sectoral authorities were tasked with redistributing functions of financing and control between representatives of the construction and banking business. At the same time, the volume of construction and liquidity of construction products should not have been affected. This tasking of reference actualized the problem of expanding mortgage lending, which is capable of supporting primarily the liquidity of residential real estate. The system measures taken have allowed for the last ten years reducing the mortgage rate by more than 37%. This made it possible to expand by a third the potential demand for residential real estate due to its high elasticity. At the same time these processes have affected the increase in the price of housing under construction. As a result, the analysis showed that in the conditions of a decrease in the level of real incomes, the mortgage business is not in a position to support the demand even in the conditions of a decrease in the interest rate to 8%. A drop in demand in conjunction with the transition to the use of new building rules, escrow accounts creates serious challenges to the viability of the subjects of the investment and construction business.

Keywords:
housing construction, national project, investment and construction business, mortgage business, construction development strategy, labor productivity, digitalization

Received:
May 13, 2019

References:
Alekseev S.A. Problems of risk accounting in the implementation of investment and construction projects on crowdinvesting online platforms. Ekonomika i predprinimatelstvo. 2017. № 5. P. 827–829. In Russian
Gaidaenko Sher N.I. Contractual forms of settlement of disputes arising in connection with business activities (the experience of Russia and foreign countries). M.: Yustitsinform, 2018. 398 p. In Russian
Global and local problems of the economy: new challenges and solutions: IV International scientific-practical conference. M.: Sputnik +, 2018. 337 p. In Russian
Peshkov V., Yaskova N. The process of administration in modern conditions: myths and reality. Economic Annals-XXI. 2015. № 3–4(1). P. 32–36. In English
Spatial restructuring. New meanings and rules of investment and construction activities / Ed. by prof. N.Y. Yaskova. M.: Publishing House ‘Delo’, RANEPA, 2019. 456 p. In Russian
Yaskova N.Y. Logic of factor analysis under conditions of variative environment of development (methodological aspect). Vestnik MGSU. 2016. № 3. P. 144–151. In Russian
Zaitseva L.I. Alternative ways of resolving disputes in the context of interstate relations and economic justice in the Russian Federation. M.: Original layout, 2015. 216 p. In Russian

Articles in Open Access mode are published under the Creative Commons Attribution 4.0 International (CC BY) license.