IDEAS home Printed from https://ideas.repec.org/a/vrs/remava/v30y2022i3p1-11n8.html
   My bibliography  Save this article

Determinants of Housing Construction in Ukraine

Author

Listed:
  • Bochko Оlena

    (Department of Marketing and Logistics, Lviv Polytechnic National University, Ukraine)

  • Kosar Nataliia

    (Department of Marketing and Logistics, Lviv Polytechnic National University, Ukraine)

  • Kuzo Nataliia

    (Department of Marketing and Logistics, Lviv Polytechnic National University, Ukraine)

  • Bilyk Iryna

    (Department of Marketing and Logistics, Lviv Polytechnic National University, Ukraine)

  • Zarichna Olena

    (Department of Business-administration, Marketing and Management, Uzhhorod National University, Ukraine)

Abstract

The work presents an analysis of the housing construction market in Ukraine. An economic and mathematic model was built to determine that the growth of the volume of housing construction in Ukraine had a positive impact on its GDP, due of a close relation between the two values. It is important to identify factors influencing the volume of housing construction. The obtained results prove that the greatest impact is made by consumer income, deposit rates in foreign currency, and the amount of consumer loans for buying, building and reconstruction of real estate assets; the numbers of marriages, investments in housing construction and interest rates for mortgage credits in UAH also have a significant impact. The elasticity coefficients reveal a positive impact of such factors as an increase of consumer income, growth of investments in housing construction, reduction of interest rates for mortgage credits and deposit rates in foreign currency, reduction of the amount of consumer loans for buying, building and reconstruction of real estate assets, and reduction of the number of marriages. Further development of the housing construction market requires appropriate conditions for the development of the banking sector in Ukraine and the growth of investments in the studied industry.

Suggested Citation

  • Bochko Оlena & Kosar Nataliia & Kuzo Nataliia & Bilyk Iryna & Zarichna Olena, 2022. "Determinants of Housing Construction in Ukraine," Real Estate Management and Valuation, Sciendo, vol. 30(3), pages 1-11, September.
    • Handle: RePEc:vrs:remava:v:30:y:2022:i:3:p:1-11:n:8
    DOI: 10.2478/remav-2022-0017
    as

    Download full text from publisher

    File URL: https://doi.org/10.2478/remav-2022-0017
    Download Restriction: no
    File URL: https://libkey.io/10.2478/remav-2022-0017?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    References listed on IDEAS

    as
    1. Adams, Zeno & Füss, Roland, 2010. "Macroeconomic determinants of international housing markets," Journal of Housing Economics, Elsevier, vol. 19(1), pages 38-50, March.
    2. Xiaolin Zhai & Richard Reed & Anthony Mills, 2014. "Factors impeding the offsite production of housing construction in China: an investigation of current practice," Construction Management and Economics, Taylor & Francis Journals, vol. 32(1-2), pages 40-52, February.
    3. Rącka Izabela & Palicki Sławomir & Kostov Ivo, 2015. "State and Determinants of Real Estate Market Development in Central and Eastern European Countries on the Example of Poland and Bulgaria," Real Estate Management and Valuation, Sciendo, vol. 23(2), pages 77-90, June.
    4. Linda Clarke & Georg Herrmann, 2004. "Cost vs. production: labour deployment and productivity in social housing construction in England, Scotland, Denmark and Germany," Construction Management and Economics, Taylor & Francis Journals, vol. 22(10), pages 1057-1066, December.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Kajuth, Florian & Knetsch, Thomas A. & Pinkwart, Nicolas, 2013. "Assessing house prices in Germany: Evidence from an estimated stock-flow model using regional data," Discussion Papers 46/2013, Deutsche Bundesbank.
    2. Theodore Panagiotidis & Panagiotis Printzis, 2016. "On the macroeconomic determinants of the housing market in Greece: a VECM approach," International Economics and Economic Policy, Springer, vol. 13(3), pages 387-409, July.
    3. Seungho Kim & Dong-Eun Lee & Yonggu Kim & Sangyong Kim, 2020. "Development and Application of Precast Concrete Double Wall System to Improve Productivity of Retaining Wall Construction," Sustainability, MDPI, vol. 12(8), pages 1-12, April.
    4. Joël Vonlanthen, 2023. "Interest rates and real estate prices: a panel study," Swiss Journal of Economics and Statistics, Springer;Swiss Society of Economics and Statistics, vol. 159(1), pages 1-25, December.
    5. Lei Jiang & Zhongfu Li & Long Li & Yunli Gao, 2018. "Constraints on the Promotion of Prefabricated Construction in China," Sustainability, MDPI, vol. 10(7), pages 1, July.
    6. Галенкова А.Д.* & Мариев О.С.** & Никитин М.В.*** & Юнусова И.М.****, 2019. "Эконометрическое Исследование Пузырей На Рынках Недвижимости России," Журнал Экономика и математические методы (ЭММ), Центральный Экономико-Математический Институт (ЦЭМИ), vol. 55(4), pages 43-56, октябрь.
    7. Lambertini, Luisa & Mendicino, Caterina & Punzi, Maria Teresa, 2017. "Expectations-driven cycles in the housing market," Economic Modelling, Elsevier, vol. 60(C), pages 297-312.
    8. Hassan Gholipour Fereidouni & Usama Al-Mulali & Janice Y. M. Lee & Abdul Hakim Mohammed, 2016. "Dynamic Relationship between House Prices in Malaysia's Major Economic Regions and Singapore House Prices," Regional Studies, Taylor & Francis Journals, vol. 50(4), pages 657-670, April.
    9. Juan Carlos Cuestas & Merike Kukk & Natalia Levenko, 2023. "Misalignments in house prices and economic growth in Europe," Applied Economics, Taylor & Francis Journals, vol. 55(28), pages 3215-3237, June.
    10. Tripathi, Sabyasachi, 2019. "Macroeconomic Determinants of Housing Prices: A Cross Country Level Analysis," MPRA Paper 98089, University Library of Munich, Germany.
    11. Füss, Roland & Koller, Jan A., 2016. "The role of spatial and temporal structure for residential rent predictions," International Journal of Forecasting, Elsevier, vol. 32(4), pages 1352-1368.
    12. Houchao Sun & Yuwei Fang & Minggan Yin & Feiting Shi, 2023. "Research on the Restrictive Factors of Vigorous Promotion of Prefabricated Buildings in Yancheng under the Background of “Double Carbon”," Sustainability, MDPI, vol. 15(2), pages 1-21, January.
    13. Apergis, Nicholas & Hayat, Tasawar & Kadasah, Nasser A., 2019. "Subjective well-being in housing purchasing: Evidence with survey data from the U.K. housing residential market," The Quarterly Review of Economics and Finance, Elsevier, vol. 74(C), pages 328-335.
    14. Efthymios Pavlidis & Alisa Yusupova & Ivan Paya & David Peel & Enrique Martínez-García & Adrienne Mack & Valerie Grossman, 2016. "Episodes of Exuberance in Housing Markets: In Search of the Smoking Gun," The Journal of Real Estate Finance and Economics, Springer, vol. 53(4), pages 419-449, November.
    15. Juan Carlos Cuestas & Merike Kukk, 2019. "Are there asymmetries in the interaction between housing prices and housing credit? Evidence from a country with rapid credit accumulation," Working Papers 2019/06, Economics Department, Universitat Jaume I, Castellón (Spain).
    16. Brzezicka Justyna & Wisniewski Radosław, 2014. "Price Bubble In The Real Estate Market - Behavioral Aspects," Real Estate Management and Valuation, Sciendo, vol. 22(1), pages 1-14, March.
    17. Agnello, Luca & Schuknecht, Ludger, 2011. "Booms and busts in housing markets: Determinants and implications," Journal of Housing Economics, Elsevier, vol. 20(3), pages 171-190, September.
    18. Mohammad Reza Farzanegan & Mehdi Feizi & Hassan F. Gholipour, 2019. "Drought and Property Prices: Empirical Evidence from Iran," MAGKS Papers on Economics 201916, Philipps-Universität Marburg, Faculty of Business Administration and Economics, Department of Economics (Volkswirtschaftliche Abteilung).
    19. Niehof, Britta & Hayo, Bernd, 2014. "Analysis of Monetary Policy Responses after Financial Market Crises in a Continuous Time New Keynesian Model," VfS Annual Conference 2014 (Hamburg): Evidence-based Economic Policy 100410, Verein für Socialpolitik / German Economic Association.
    20. Benedetto Manganelli & Francesco Tajani, 2015. "Macroeconomic Variables and Real Estate in Italy and in the usa," SCIENZE REGIONALI, FrancoAngeli Editore, vol. 2015(3), pages 31-48.

    More about this item

    Keywords

    housing construction market in Ukraine; consumer income; investments in housing construction; banking sector;
    All these keywords.

    JEL classification:

    • C50 - Mathematical and Quantitative Methods - - Econometric Modeling - - - General
    • R31 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Real Estate Markets, Spatial Production Analysis, and Firm Location - - - Housing Supply and Markets

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:vrs:remava:v:30:y:2022:i:3:p:1-11:n:8. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Peter Golla (email available below). General contact details of provider: https://www.sciendo.com .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.