Abstract
The paper reflects the results of the study of the dependence of factors that form the market value of residential real estate objects at the stages of life cycle on the example of the residential real estate market in the city of Krasnoyarsk. It was determined that the location and lifetime of facilities are the key factors in the formation of the market value of residential property. Based on the conducted economic and statistical analysis, it is proved that the importance of the residential object location can suppress the influence of a high degree of depreciation of the building, thereby increasing the market value of residential property in it. It is justified in the work that the value of a location, being a qualitative characteristic of residential real estate, involves the development of quantitative approaches to its measuring and valuating in order to solve theoretical and methodological problems of management and development of housing construction.
Highlights
Identification of the key factors that impact formation of the market value of these objects, taking into account the stage of the life cycle, is one of the main issues of modern valuation of residential real estate and the development of investment projects in housing construction
We believe that the market value of a residential property is the most likely price that would suit the participants in a deal with a residential property in the competitive and open market environment, subject to all the conditions necessary to enter into an honest transaction, provided that a buyer and a seller act wisely and in the informed way, considering that the cost is not exerted undue influence and it is formed on the basis of objectively significant factors affecting it
The correlation-regression analysis method was used to process an array of data from firms of real estate developers and real estate agencies for the purpose of determining the dependence of the cost of 1 square meter of residential property on the key factors: a differentiation coefficient was used to characterize the location, determined on the basis of urban planning value of land in Krasnoyarsk [23]; the factor of the life cycle of the building was tied to the year of commissioning the residential building
Summary
Identification of the key factors that impact formation of the market value of these objects, taking into account the stage of the life cycle, is one of the main issues of modern valuation of residential real estate and the development of investment projects in housing construction. Determining the factors shaping the value of residential real estate and identification of the nature of their interaction will create a reliable theoretical basis for individual and mass valuation of objects when concluding transactions for sale and purchase of real estate on the housing market, and when calculating the taxable base of residential real estate In this regard, the study, which was aimed at developing a model for the dependence of the market value and the life cycle of residential real estate objects on the basis of the allocation and evaluation of the key factors that affect the formation and determination of value by the stages of the life cycle, supplements existing scientific and practical developments in this thematic area
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