Open AccessAnalysis and Forecasting of Housing Prices Considering Particulars of Vladivostok Real Estate Market
Author(s) -
T. Bekker,
M. Buzina,
O. Tupikova
Publication year - 2021
Publication title -
iop conference series. materials science and engineering
Language(s) - English
Resource type - Journals
eISSN - 1757-899X
pISSN - 1757-8981
DOI - 10.1088/1757-899x/1079/4/042039
Subject(s) - real estate , property market , government (linguistics) , market price , property (philosophy) , business , economics , finance , linguistics , philosophy , epistemology
The present article is dedicated to the problem of price forecasting with due consideration for particulars of local real estate market. Economic and geopolitical features of Vladivostok determine the particulars of real estate market, and the high level of housing prices was duly considered. A brief overview of approaches and methods used for forecasting of prices for residential property was performed. A special monitoring study of the real estate market was carried out; the general trends of price changing were identified, and time trend was evaluated. Methodological approach has been substantiated, and the model of forecased housing prices has been developed with due consideration for the particulars of real estate market at the municipal level. The forecast of for residential property price changes was carried out with reference to the basic scenario of the socio-economic development of Vladivostok up to 2025. Practical application of the proposed model would allow investors and developers to evaluate the effective demand in a more objective manner, and thereby to provide adequate offers in Vladivostok primary housing market; and would allow the municipal government to develop and undertake specific measures of state regulation and support.