Development of the Institutional and Economic Mechanism for Managing the Regional Real Estate Market

Abstract

A detailed analysis of the concepts of economic and institutional mechanism characterizing the current stage of economic development has been conducted. The socio-economic development of the residential real estate market at the level of the Russian Federation and the Penza Region, which is a developing region, has been studied. Based on the analysis of the main economic indicators of the residential real estate market, positive and negative aspects have been revealed. A model of the institutional and economic mechanism for managing the regional real estate market has been developed. The model reveals the essence of the effectiveness of the institutional and economic mechanism showing the dependence of the effectiveness of the institutional mechanism on the behavior of the main economic agents. A set of organizational, legal and economic measures, the implementation of which on a practical level contributes to the development of the residential real estate market, has been proposed.