Features of pricing in the real estate market
https://doi.org/10.18384/2949-5024-2023-4-116-125
Abstract
Aim. The purpose of the article is to study the features of pricing in the real estate market.
Methodology. The methodological basis of the research is the works of domestic and foreign scientists in the field of economic theory, mathematical statistics, as well as work in the field of industry disciplines: real estate economics, theory of industry markets, work in the field of economic and mathematical modeling, as well as real estate valuation and market forecasting.
Results. The analysis revealed that the introduction of the real estate valuation system will have a number of important implications for residential property pricing, namely: involvement in the turnover and efficient use of real estate; the possibility of lower housing prices as a result of a more accurate valuation based on the use of a systematic approach; trends in the sale of large-scale property; increased efficiency in the use of territories and sustainable development; and reduced transaction costs in real estate transactions.
Research implications. The theoretical significance lies in the fact that the theoretical provisions of valuation reduce the uncertainty of economic pricing processes in the real estate market and allow solving the important task of improving the accuracy of economic justification and forecasting market value. The practical significance lies in the possibility of introducing a real estate valuation system in the task of mass evaluation of residential real estate by competent authorities and real estate companies.
About the Authors
A. V. Khokkanen
JSC “PIC”; State University of Education
Russian Federation
Russian Federation
Andrei V. Khokkanen – management of own commercial real estate objects; Postgraduate Student, Department of Economic and Financial Education,
ul. Very Voloshinoi 24, Mytishchi 141014, Moscow Region.
V. V. Demina
Moscow Pedagogical State University; State University of Education
Russian Federation
Russian Federation
Vera V. Demina – Dr. Sci. (Economics), Prof., Department of Economic Theory and Management; Assoc. Prof., Department of Economic and Financial Education,
ul. Malaia Pirogovskaia 1, Moscow 119991;
ul. Very Voloshinoi 24, Mytishchi 141014, Moscow Region.
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