Russian Real Estate Market during the Economic Crisis
Abstract
The article analyzes the main preconditions for the real estate market crisis (by the example of Saint Petersburg). The author reveals interconnection between fundamental, market and speculative factors, which caused a price bubble at the real estate market. Some ways to overcome the crisis, such as appropriate state policy including selective nationalization of financial institutions and development companies are offered.
Keywords:
real estate, economic crisis, selective nationalization, financial institutions, developers
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Articles of the St Petersburg University Journal of Economic Studies are open access distributed under the terms of the License Agreement with Saint Petersburg State University, which permits to the authors unrestricted distribution and self-archiving free of charge.