Home Vestnik MGSU Library Vestnik MGSU 2013/2 IMPROVEMENT OF THE MORTGAGE LENDING PATTERN APPLICABLE TO LOW RISE HOUSING CONSTRUCTION

ECONOMICS, MANAGEMENT AND ORGANIZATION OF CONSTRUCTION PROCESSES

IMPROVEMENT OF THE MORTGAGE LENDING PATTERN APPLICABLE TO LOW RISE HOUSING CONSTRUCTION

  • Ivakin Evgeniy Konstantinovich - Rostov State University of Civil Engineering (RGSU) Doctor of Economics, Professor, Honoured Builder of the Russian Federation, Chair, Department of Marketing and Logistics; +7 (863) 20-19-045, Rostov State University of Civil Engineering (RGSU), 162 Sotsialisticheskaya St., Rostov-on-Don, 344022, Russian Federation; This e-mail address is being protected from spambots. You need JavaScript enabled to view it .
  • Vagin Aleksandr Vladimirovich - Rostov State University of Civil Engineering (RGSU) +7 (863) 20-19-045, Rostov State University of Civil Engineering (RGSU), 162 Sotsialisticheskaya St., Rostov-on-Don, 344022, Russian Federation; This e-mail address is being protected from spambots. You need JavaScript enabled to view it .

Pages 181-188

The analysis performed by the authors has proven that the rate of growth of the active income of residents of the Rostov region is far behind the rate of growth of the value of residential properties. There is no need to wait for any improvement in the welfare of Russians, rather, more houses need to be built and new financing patterns are to be implemented in respect of construction sites that are going to accommodate residential housing construction projects.Given that the number of families affluent enough to buy housing is equal to 11.5 %in the Rostov region, resolution of the housing problem needs a comprehensive approach.Analysis of the value of land in the Rostov region proves that investment projects that contemplate low rise housing construction in the cottage communities or areas with low values of land, i.e. the areas selected by low-income citizens, should be treated as projects that need state funding. Favorable conditions for citizens wishing to build or to buy private low rise houses could be part of the “stimulus.”The authors have developed an improved mortgage lending pattern that incorporates programmes of incentives, supplementary social security payments, and a lower interest rate.

DOI: 10.22227/1997-0935.2013.2.181-188

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