Modern Features of the Housing Market in the Largest Cities of the Russian Federation

The article is devoted to the study of the specifics of the territorial housing markets of the largest cities of the Russian Federation. The relevance of the study is because the development of housing markets of million cities leads to the solution of the most important problem - stimulation the provision of quality housing for the population. Moreover, the development of housing markets contributes to the repeated acceleration of economic growth of the city through the multiplier effect of stimulating demand for products of related sectors of the economy. The aim of the study is a theoretical and methodological study of territorial housing markets to develop proposals for their improvement using data of the largest cities of the Russian Federation. The article defines the features and factors that determine the state of demand, supply, and prices in the housing markets of the largest cities in today's crisis conditions. The algorithm of a phased study of the housing markets of cities with a population of more than one million is presented in this article. The analysis is based on a comprehensive analysis of cities in terms of the integral indicator of housing demand, the integral indicator of housing supply, and the coefficient of housing affordability. The main theoretical and methodological provisions were tested using data from the 12largest cities of the Russian Federation, which allowed to make their positioning on the housing market and to offer a typology of the studied cities-millionaires. The cities with the most favourable condition of the housing market were revealed (Novosibirsk and Ufa). Moreover, it was also revealed cities that differ in all respects: demand, supply, housing availability; and the values are below the average level (Chelyabinsk, Perm, and Omsk). The main problems in the housing market of the largest cities are revealed: an imbalance in demand and supply, pressure on prices towards their increase; low availability of housing; insufficient infrastructure development. The article concludes with the development of a set of practical recommendations for improving the development of housing markets, depending on the types of major cities in the Russian Federation.