Analysis of Regional Housing Prices

The housing market is of great importance to the Russian economy, primarily because residential real estate is a key asset and investment for most citizens. The analysis of this market allows us to identify its current state, new trends and factors affecting housing prices in different regions. Such knowledge is important for making strategic recommendations to investors and developers when considering economic and legislative changes in Russia. The purpose of this study was to identify factors that have a significant impact on the dynamics of regional prices in the Russian housing market (both primary and secondary). This goal was achieved by solving a number of consecutive tasks. The research methodology was based on the application of an econometric model using spatial effects. The study used a standard econometric model based on a panel of data for 2015-2022. The results of the study showed that economic factors have the most significant impact on regional housing prices in both the primary and secondary markets in the regions of Russia. It should also be noted that taking into account spatial effects showed that in both markets, proximity to the center significantly affects housing prices, and their cost decreases as the distance from the center increases.