Uchinina T.V., Molokova T.V.Published in:
Russian Journal of Housing Research
– Volume 6, Number 2 (April-June 2019)

JEL classification: L74, R31, R32

Keywords: builder's strategy, competition, construction, consumer, decision algorithm, developer, development company, housing market, investment and construction project, liquidity, primary market, residential property


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Abstract:

In the unstable economic situation in the country in the primary housing market there is a drop in demand, due to a decrease in the purchasing power of the population and the increased risk of late commissioning of objects, or their transition to the category of "long-term construction", so the companies-developers need to develop a competitive strategy to increase the liquidity of construction products. Application of theoretical (studying and generalization of results of researches of theoretical and scientific and practical developments in the sphere of building of the relations between consumers and builders in the housing market) and empirical (questioning of groups of consumers, sociological poll, the analysis of the statistical data which allowed to reveal consumer preferences in the primary market of multi-storey residential real estate) methods of research led to definition of three main strategic directions of activity of developers at implementation of investment and construction projects: focus on customer comfort, focus on fast sales and focus on the company's image. The algorithm of decision-making by development companies on the choice of one or several strategic directions in the construction of residential real estate is also developed. The application of the algorithm will reveal the preferences and opportunities of investors and potential buyers, quickly choose the right direction of the project and successfully implement it. In practice, the results of the study will be useful for developers in modeling the strategy of positioning and promotion of the final product of construction activities for different groups of consumers in the housing market.

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