Economic Criteria for Cities’ Readiness for the Renovation Program

Abstract

There are a number of issues that are relevant and high priority for many large cities around the world. Among them are the following: renovation of the housing stock and ensuring the development of residential areas, creating favorable living conditions for citizens and increasing housing supply to better serve unmet demand (housing per capita). The program of housing stock renovation in large cities should be developed based on individual scenarios. To ensure the effective implementation of such a program for each region (city), in each case there need to be developed a model that takes into account such major factors as features of the regional economy, the structure of the existing housing system, and other specifics of the current situation in a local market. In this article, the authors define the main indicators that reflect the economic readiness of the city for a renovation program.