The real estate market — is the mechanism by which the combined interests and rights established on real estate prices. The importance of structuring the real estate market, as a complex system due to its functional characteristics: the solution of social problems, alienation of property rights, the formation of real estate prices, a redistribution of investment flows between competing types of real estate. When the regulation of market relations is an important segment of the real estate market, according to the method of the transactions. The primary housing market is generated as a result of privatization of state and municipal enterprises, land, buildings, premises and property rights of legal entities.
Keywords: the real estate market, primary real estate, secondary real estate, «Affordable Housing — 2020» residential construction program and «Housing» programs.
Рынок недвижимости — это механизм, с помощью которого объединенные интересы и права устанавливаются по ценам на недвижимость. Важность структурирования рынка недвижимости как сложной системы из-за ее функциональных характеристик: решение социальных проблем, отчуждение прав собственности, формирование цен на недвижимость, перераспределение инвестиционных потоков между конкурирующими типами недвижимости. Когда регулирование рыночных отношений является важным сегментом рынка недвижимости, в соответствии с методом сделок. Основной рынок жилья генерируется в результате приватизации государственных и муниципальных предприятий, земли, зданий, помещений и имущественных прав юридических лиц.
Ключевые слова: рынок недвижимости, первичная недвижимость, вторичная недвижимость, программа жилищного строительства «Доступное жилье — 2020» и программы «Жилье».
The real estate market is an essential component in any national economy because the real estate — the most important part of national wealth to which share more than 50 % of world wealth fall. The importance of the domestic real estate market as sectors of economy is confirmed by its high share in gross national product, high level of the income arriving in the budget from primary sale, leasing of the state and municipal real estate (including lands), receipt in the budget of taxes from the real estate and payments according to transactions with it [1].
Today housing construction is the most socially important segment of the real estate market. Urgent is a problem of availability of housing to all segments of the population. Availability and security of citizens with housing have direct influence on a demographic situation, an economic situation and on level of living in the country. For the solution of social problems, and also for development of economy in general it is necessary to increase amounts of housing construction. The large role in it is played by creation and implementation of new construction materials which would promote decrease in cost value of construction objects and, respectively, increase in number of building sites. [2].
As it was mentioned above, the main problem in the housing market is availability of housing. I would like to compare housing programmes in the countries of Kazakhstan and Russia. Develop target programs for the solution of tasks of increase in availability of housing and a growth in volumes of housing construction of the state.
Table 1
Two housing programs in Kazakhstan and Russia
|
Programs |
«Affordable Housing— 2020» |
«Housing» |
|
Goals |
The complex problem resolution of development of housing construction providing further increase in affordability of housing to the population |
It will allow young families, immigrants, military personnel, liquidators of accident of the NPP, to the staff of the Ministry of Emergency Situations and prosecutor's office to purchase the real estate in case of a financial support of the state |
|
Tasks |
- Creating a full balanced housing market; — Attract private investment in housing and the promotion of public-private partnerships; — The development of engineering and communication infrastructure in areas of housing development; — The development of individual housing construction; — Solution to the issue the demolition of dilapidated housing; |
-Formation Of Housing economy class; — Providing housing for young families; — Fulfillment of state obligations to provide housing for certain categories of citizens established by federal law; — Modernization of communal infrastructure |
|
Terms of realization |
2012–2020 |
2016–2020 |
|
Results |
- In the direction of «Housing for young families» made up 5078 young families, including 1302 for a three-bedroom, 2765 — two-bedroom and one-bedroom apartments for 1011; — construction of rent housing in the cities of Aktobe, Petropavlovsk, Kostanay, Uralsk, Astana and Taraz, with a total area of 87 thousand sq.m |
- More than 287,000 pairs were able to solve housing problems; — Increased volume of construction and the percentage of private housing; — Improved living conditions and secured meters of usable area to 247 000 participants. As a result, more than 300 young couples were able to purchase the property; — In 2016 due to an increase in funding of 41 % for financial assistance can count 47,000 families |
|
Note — Compiled by the author [6,7] |
||
Today the Russian real estate market is undergoing rapid development: with the economy is growing demand for property is increasing the number of objects, improved legislation. On the market come new players who are interested in the allocation of capital in the ready-upscale properties for the long term.
Fig. 1. Prices in the secondary housing market in the Russian Federation. Note — Compiled by the author [4].
As we can see on the chart, the price on the secondary housing market in Russia is stable. Most likely, the end of the year we will see a further slide in prices down, and both in rubles and in US dollar terms. It is not clear the essential reasons that could quickly revive the market and, therefore, the value of trading on the «secondary housing» in the stagnation will only grow even at relatively stable prices stated. If the situation has not fundamentally changed, the implicit reduction in the form of bargaining will become apparent as early as next year.
Fig. 2. Prices in the secondary housing market in Kazakhstan. Note — Compiled by the author [3].
In Figure 4 you can see the growth in house prices in the secondary market. But recently, the National Bank of Kazakhstan has published the results of a study on the crisis and the risks, where the views of more than a hundred financial experts were taken into account. Respondents emphasized that the disturbing situation is observed in many spheres including in the sphere of housing. In the report it is said that in 2016 the market endured shock in connection with fall of cost of a square and was significantly narrowed as regarding the commercial, and residential real estate. Recovery of the prices next year isn't expected, on the contrary, perhaps further decrease.
In general in the document it is said that the current situation has macroeconomic character and turned out to be inevitable consequence of high degree of integration of economy of Kazakhstan in world space. And the most essential phenomena respondents recognized global risk and difficulties in credit sector [5].
Today housing construction is the most socially important segment of the real estate market. Proceeding from this analysis, it is possible will notice that decisive impact on a market situation of the real estate is exerted by macroeconomic factors. Analysts of the real estate market note political and economic stability in the country, high rates of economic growth.
References:
- Grinenko S. V. 2004, The real estate market.
- Yarushkina N. A. 2006, Prediction price dynamics of the housing market on the basis of econometric models. Tomsk, pp: 4–5.
- http://krisha.kz/content/articles/2016/ceny-na-vtorichnom-rynke-rk-za-15-let-vyrosli-v-25-raz
- http://cbre.kz/news/residential-market-overview-almaty.html?lang=en
- http://www.kazbuild.kz/en/press-center/news/327-kazakhstan-injects-1-billion-into-housing-construction
- «Affordable Housing 2020» state program \ http://sk.kz/page/gosudarstvennaja-programma-dostupnoe-zhile-2020?lang=en
- State programme for Affordable and Comfortable Housing and Utility Services for Russian Citizens approved \ http://government.ru/en/news/6135/
