Investment Features in the Real Estate Market under Conditions of Economic Uncertainty

Abstract

Real estate is considered in the article as an indicator of economic development of the country. Analysis of social indicators influencing economic development is carried out and the system of measures in the field of the real estate market, purposes and organization of economy functioning aimed at overcoming the consequences of 2020 pandemic and transition of Russia economy to sustainable development trajectory is suggested. Both system problems in the real estate market characteristic for last decades, and the local problems which have arisen owing to spring-summer of 2020 pandemic are investigated. Indicators of housing market development in the Russian Federation are analyzed. Estimation of housing market including a number of indicators is carried out. They are quality of available housing, volumes of housing construction and investments level into housing sphere, cost of real estate and solvent demand of the population. In the article, the level of housing and hypothecary credits in March - April, 2020 is analyzed. It has sharply grown in comparison with the beginning of the year, that is caused by consumer behaviour of the population, when economy destabilization (falling of the prices in the oil market and decreasing rate of national currency) provokes population to invest savings in the stablest assets -real estate. The suggested measures are grouped in four directions concerning the problems of macroeconomic stability, mesoeconomic integration and coordination, microeconomic development and inter-level interactions. In the article the basic directions of economy development of the Russian Federation in the field of real estate are presented.