Izin Sun, Ilnur GareevPublished in:
Russian Journal of Housing Research
– Volume 2, Number 3 (July-September, 2015)

JEL classification: L74, O57, R21, R28

Keywords: housing issue, housing policy, regulation of the housing system, targeted housing programs


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Abstract:

The article reviews evolution of the state housing policy in China and Russia. Main approaches to resolving of the housing issues on the territory of countries that have dramatically changed their development course are detected. Evaluation of development prospects that determine residential real estate market trends is given. Obtained results can be used for correction of the national housing policy that will increase business activity in the industry and will make the housing issue less acute.

Highlights:

► average income families can purchase available houses and high income families can purchase or rent commercial houses for the market price – it became the political ground for formation of the housing provision system
► in order to achieve the economic growth and to exceed financial reasonings, local governments concentrated on marketisation of distributed houses and available and low-payment rented houses were out the limits of this target
► the key point for acceleration of solution for the housing issue is the increase in the scope of budget funding, mostly, for low-income families; at this, transparent distribution of state support funds shall be provided
► the great achievement for this stage was the fact that institutes of development were created that still operate nowadays; they determine the situation on the residential real estate market, are only ones that in periods of crisis events provide for business activity in the construction industry
► funding of regional and municipal events from the federal budget started being implemented on the differential basis
► the main factor that predetermined trends of real estate market development on that stage was the external political and economical effect that was negative for the Russian Federation
► as far as financial stability of the state increases, its stimulating role increases as well, at the decrease in business activity in the industry the state strengthens its regulating role

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