Article 13414

Title of the article

FORMATION OF FAIR MARKET PRICE OF HOUSING IN MODERN MARKET CONDITIONS

Authors

Semerkova Lyubov' Nikolaevna, Doctor of economic sciences, professor, sub-department of marketing, commerce and service, Penza State University (40 Krasnaya street, Penza, Russia), penzamarketing@pnzgu.ru, penzamarketing@mail.ru
Saf'yanov Aleksandr Nikolaevich, Candidate of economic sciences, associate professor, sub-department of production economy, organization and management, Penza State University of Architecture and Construction (28 Germana Titova street, Penza, Russia), penzamarketing@pnzgu.ru, penzamarketing@mail.ru

Index UDK

332.83

Abstract

Background. The article attempts to substantiate the importance of the notion “fair housing price” regardless of the established state of the market and the system of price formation in effect.
Materials and methods. The methodological base of the research included various methods for determining fair housing price: methods based on the principle of self-repayment of investments into housing; methods based on average annual family income. The authors suggested a method of calculating fair housing price, adapted to the modern stage of construction market development.
Results. On the basis of the notion “fair housing price” the authors formulated as follows: fair housing price is a price that will satisfy housing needs of society at the minimal level of satisfaction with convenience, i.e. a consumer can buy a needed apartment and, by the end of a certain period of time, improve his/her housing conditions. The analysis showed that if a consumer uses his/her free funds to repay a mortgage, than the credit period may be 80 years that should be limited within 12–15 years, as by the end of the said period Russian families will be in the need to improve their housing conditions. At the present time the value of consumer’s fair price, calculated on the basis of comfortable conditions for a consumer, doesn’t cover even a half of construction cost of 1 square meter of housing.
Conclusions. Considering the reservedly-optimistic scenario of the macroeconomic situation in the world and Russia, the fair housing price should gradually rise. Main factors influencing the rise are retention of high prices of energy carriers, stabilization and further rise of population’s income, inflation lowering, improvement of mortgage conditions.

Key words

fair housing price, construction market.

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References

1. Ekonomika stroitel'stva [Construction economy]. Ed. by V. Ts. Buzyrev. Saint-Petersburg:Piter,2009,416p.
2. Zhilishchnaya ekonomika: per. s angl. [Housing economy: translation from English]. Ed. by G. Polyakovskiy. Moscow: Delo, 1996, 224 p.
3. Bartenev S. A. Istoriya ekonomicheskikh ucheniy v voprosakh i otvetakh [History of economics in questions and answers]. All-Russian Academy of Foreign Trade of the Ministry of Economy, Development and Trade of the Russian Federation. Moscow: Magistr, 2009.
4. Rossiya v tsifrakh. 2013 [Russia in figures. 2013]. Ed. A. Surikov. Moscow : ROSSTAT, 2013.

 

Дата создания: 27.04.2015 10:43
Дата обновления: 27.04.2015 15:53