Importance The construction industry and the real estate market have an impact on various areas of economic, social and environmental development of regions. An increase in construction and revitalization of the real estate market have an effect on improvement of life quality of the population and sales of goods and services. These industries create favorable conditions for the growth of tax capacity in regions. Objectives The study aims to review the development specifics of the construction industry and the real estate market of the Central Federal District in 2015, analyze their impact on tax capacity growth and trends in economic activity and tax revenues. Methods I employ statistical methods to review the structure and changed in the analyzed indicators, as well as the index analysis and multidimensional classification. Results I devised integrated indices of the construction industry and real estate market development, a sectoral index of tax capacity, socio-economic development of regions and the purchasing power of the population. Calculations of integrated indices revealed a differentiation of regions in terms of development of construction industry, real estate market and purchasing power of the population, however, changes in the sectoral tax burden were insignificant. The results of multidimensional classification of regions indicated individual specifics of territories and the lack of common trends in the formation of integrated indices. Conclusions and Relevance The findings may help supplement information on special features of sectoral development of economy in the region. The results of multidimensional classification can be used to draw up regional policies.
Keywords: modeling, multidimensional classification, tendency, development, comparative analysis, region
References:
Levkin S. I., Kievskii L.V., Shirov A.A. [Multiplicative effects of the construction complex of Moscow]. Promyshlennoe i grazhdanskoe stroitel'stvo = Industrial and Civil Engineering, 2014, no. 3, pp. 3–9. (In Russ.)
Kievskii L., Kievskii I., Abyanov A. Vklad stroitel'nogo kompleksa Moskvy i Rossii v ekonomiku: monografiya [The contribution of the building complex of Moscow and Russia to the economy: a monograph]. Germany, LAP LAMBERT, 2015, 92 p.
Balash V.A., Balash O.S., [Econometric analysis of geocoded data on prices for residential real estate]. Prikladnaya ekonometrika = Applied Econometrics, 2011, no. 2, pp. 62–77. (In Russ.)
Kogteva A.N., Gavshina E.A. [A comparative analysis of prices in the real estate market of the Belgorod oblast]. Materialy III mezhdunarodnoi nauchno-prakticheskoi konferentsii “Aktual'nye problemy ekonomiki v usloviyakh reformirovaniya sovremennogo obshchestva” [Proc. 3rd Int. Sci. Conf. Urgent Problems of the Economy under the Modern Society Reform]. Belgorod, BelSU Publ., 2015, pp. 79–82.
Kontsevaya N.V. [Modeling real estate market: forecasting the price for a square meter]. Ekonomika, statistika, informatika. Vestnik UMO = Economics, Statistics and Informatics. UMO Bulletin, 2016, no. 4, pp. 31–34. (In Russ.)
Lukmanova I.G., Nezhnikova E.V. [Interdependence of cost and quality of items of real estate]. Vestnik MGSU, 2012, no. 2, pp. 170–174. (In Russ.)
Medvedeva M.A. [Price trends on the secondary market of the residential real estate]. Vestnik Omskogo universiteta. Ser.: Ekonomika = Herald of Omsk University. Series Economics, 2013, no. 2, pp. 198–201. (In Russ.)
Mints V.M. [Principles of forecasting the changes in prices for residential real estate]. Imushchestvennye otnosheniya v Rossiiskoi Federatsii = Property Relations in the Russian Federation, 2008, no. 1, pp. 35–42. (In Russ.)
Mishlanova M.Yu. [Notation tools of business modeling of the services on the real estate market]. Vestnik MGSU, 2016, no. 4, pp. 199–129. (In Russ.)
Rubinshtein E.D., Osipenko N.S. [The analysis and forecasting of the real estate market]. Teoriya i praktika obshchestvennogo razvitiya = Theory and Practice of Social Development, 2015, no. 12, pp. 140–143. (In Russ.)
Sternik G.M. [Pricing in the housing market of Russia]. Imushchestvennye otnosheniya v Rossiiskoi Federatsii = Property Relations in the Russian Federation, 2010, no. 5, pp. 67–83. (In Russ.)
Sutyagin V.Yu., Cherkashnev R.Yu. [Forecasting of the prices in the residential real estate market of the Tambov regional market]. Sotsial'no-ekonomicheskie yavleniya i protsessy = Socio-economic Phenomena and Processes, 2012, no. 3, pp. 103–113. (In Russ.)
Kharlamov A.V. [Problems of mass valuation of cadastral value of real estate]. Imushchestvennye otnosheniya v Rossiiskoi Federatsii = Property Relations in the Russian Federation, 2011, no. 6, pp. 71–77. (In Russ.)
Zolotareva G.A., Podoprigora I.V. [Influence of investments in the housing sector on economic growth]. Izvestiya Tomskogo politekhnicheskogo universiteta = Bulletin of Tomsk Polytechnic University, 2013, vol. 323, no. 6, pp. 62–68. (In Russ.)
Grabovyi P.G. [Territories of Priority Socio-Economic Development: Points of Growth in Russia’s Far East] Nedvizhimost': ekonomika, upravlenie = Real Estate: Economics, Management, 2016, no. 1, pp. 6–10. (In Russ.)
Ovsyannikova T.Yu. [The market of housing investments: Analysis of factors of post-crisis dynamics]. Nedvizhimost': ekonomika, upravlenie = Real Estate: Economics, Management, 2015, no. 2, pp. 38–44. (In Russ.)
Bayer P., Geissler C., Roberts J.W. Speculators and Middlemen: The Role of Flippers in the Housing Market. Duke University Working Papers, 2011, no. 11-03.
Gallin J. The Long-Run Relationship Between House Prices and Rents. Real Estate Economics, 2008, vol. 36, iss. 4, pp. 635–658. doi: 10.1111/j.1540-6229.2008.00225.x
Haughwout A., Lee D., Tracy J., Van der Klaauw W. Real Estate Investors, the Leverage Cycle, and the Housing Market Crisis. Federal Reserve Bank of New York Staff Reports, 2011, no. 514. Available at: Link
Jingjuan Guo, Aibo Hao, Yipeng Ren. Design Optimization of Real Estate Tax and Effect Analysis in China. Journal of Industrial Engineering and Management, 2014, vol. 7, no. 2, pp. 532–545. doi: 10.3926/jiem.1015
Norregaard J. Taxing Immovable Property. Revenue Potential and Implementation Challenges. International Monetary Fund Working Paper, 2013, no. WP/13/129. Available at: Link
Popova G.L. [Primary real estate market of the region: Analysis and forecast]. Materialy II Vserossiiskoi nauchno-prakticheskoi konferentsii s mezhdunarodnym uchastiem “Informatsionnye tekhnologii v ekonomike i upravlenii” [Proc. 2nd All-Russ. Sci. Conf. Information Technologies in Economics and Management]. Makhachkala, DSTU Publ., 2016, pp. 26–29.
Bystrov V.A., Balaban E.F., Borisova T.N., Grekova N.Yu., Tregubova O.G. [Mortgage loans for housing in the Kemerovo region, the state and the ways of development]. Fundamental'nye issledovaniya = Fundamental Research, 2016, no. 11-4, pp. 762–767. (In Russ.)
Ivasenko A.G., Shishkina V.D. [Mortgage lending and construction]. Sovremennye tendentsii v ekonomike i upravlenii: novyi vzglyad = Modern Trends in Economics and Management: A Fresh Approach, 2010, no. 6, pp. 364–368. (In Russ.)
Holt J. A Summary of the Primary Causes of the Housing Bubble and the Resulting Credit Crisis: A Non-Technical Paper. The Journal of Business Inquiry, 2009, vol. 8, iss. 1, pp. 120–129.
Aivazyan S.A. Analiz kachestva i obraza zhizni naseleniya. Ekonometricheskii podkhod: monografiya [Analysis of the quality and lifestyle of the population. Econometric approach: a monograph]. Moscow, Nauka Publ., 2012, 432 p.
Urodovskii V.N., Bakhaeva A.A. [About unification scales of measurement in models of the assessment of probability risk of bankruptcy of the organizations]. Sotsial'no-ekonomicheskie yavleniya i protsessy = Socio-economic Phenomena and Processes, 2011, no. 12, pp. 255–260. (In Russ.)
