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TERRA ECONOMICUS

Institutional analysis of housing in Russia


TERRA ECONOMICUS, , Vol. 19 (no. 2),

The article deals with the role of the housing owned by the Russian households. Perception of housing bythe individuals from social, historical, psychological and law perspectives are analyzed. The role of housingand its influence on the households’ economy is underestimated. The choice of housing for a householdis featured by a specific rationality, namely, associated with the social and psychological factors, ratherthan exclusively by financial ones. The authors trace the origins of the Soviet institutional model and itseffects on the modern households. The paper provides evidence on the ownership of housing in Russia andon the lack of a developed residential property market. Differences and similarities of real estate owningfor households and firms are identified. The research findings allow to conclude that it is not typical for theRussian mentality to use life lease housing, due to the Russians’ historical memory, as well as underdevelopedlong-term rental housing market in Russia. This behavioral model distinguishes Russian households from theWestern ones. The underlying motives and interests of households related to the real estate are analyzed.The authors suggest an unconventional approach to study the real estate market through the prism of theinternal and external institutional environment.
Citation: Nureev, R.M., Guliaeva, O.A. (2021). Institutional analysis of housing in Russia. Terra Economicus 19(2): 39–57. (In Russian.) DOI: 10.18522/2073-6606-2021-19-2-39-57


Keywords: households; housing; Russia; mortgage; rental housing; residential property market

JEL codes: D10, D13, P14

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Publisher: Southern Federal University
Founder: Southern Federal University
ISSN: 2073-6606