ANALYSIS OF THE PECULIARITIES OF THE PRIMARY AND SECONDARY RESIDENTIAL REAL ESTATE MARKETS’ MODERN STATE IN UKRAINE
Abstract
Purpose. An analysis of residential real estate primary and secondary markets and definition of modern features of their condition. Methodology of research. In order to achieve the aim of the research process, the following methods have been used: observation (to consider the state of development of residential real estate primary and secondary markets); theoretical generalization and comparison (to determine the theoretical basis for interpretation of the concepts «housing» and «residential property»); analysis and synthesis (for analysis of residential fund and valuation of residential real estate). Findings. The peculiarities of the current state of primary and secondary residential real estate markets in Ukraine were explored. There were considered theoretical approaches to the definition of the concepts «housing» and «residential property». It was analyzed a residential fund, focusing on the shortcomings in practical use of the existing Residential Code. There was explored the volume of completed construction work and commissioned housing in 20122016, which allows us to state that the domestic real estate market is characterized by demand for apartments with a small area. Citizens' interest in new buildings is caused by desire to preserve their own savings bypassing the banking sector, especially after bankruptcy of a dozen financial structures and nationalization of CB «Privatbank». In order to study the condition of the secondary residential real estate market there was analyzed an average cost per square meter of residential property. It was discovered that the main reason for residential real estate market stagnation is a gap between purchasing power and housing prices. Originality. The theoretical bases of residential real estate primary and secondary markets functioning from the point of view of the demand and supply formation factors, pricing policy, construction rates, introduction of housing in operation and their accordance to the present were improved and substantiated. Practical value. The results of the study can be used to improve the state housing policy in Ukraine, as well as to find opportunities for activating the mortgage lending market.
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