COMPETITIVE FEATURES IN THE MARKET STRUCTURE OF HOUSING PROPERTY WITH REGARD TO REGIONAL DEFINITIONS

Abstract

The subject of research. Given the steady demand for residential real estate, the low solvency of the population, and unbalanced development of individual segments of the regional housing market, competition issues and the mechanism of its operation, today is very relevant. Real estate is one of the components of the national economy because it carries more than half of total world wealth and its stable functioning is one of the most complex processes of market transformations occurring in the country. Active functioning property markets are a prerequisite for the sustainable development of cities and regions of the country. This development is the basis for the effective management of regional and implemented in the system of national governance and local governance. In modern terms, Ukraine is at the stage of the market system, one of which is real estate market. From the way, the subject of study is a competitive relationship, and especially their formation in the regional real estate market. Methodology. In order to carry out a thorough study, there was elaborated numerous scientific literature authored by leading scientists of Ukraine, Europe, and the former Soviet Union camp to define the concepts of “competition”, “regional market”, “real estate”, “residential property”. According to the research of current problems and competitive features in the structure of the real estate market on the basis of regional specificity, a logical systematization of these concepts is made. Results of the research allowed us to “carry” a clear parallel between the correlation of factors and competitive impact on the regional real estate market of the potential buyers, the developer and manufacturer of products directly to real estate as an object relationship. Practical implications. The article is to study the specific competitive position in the regional real estate market in Ukraine and also features of exposure to it by consumers, builders, and direct the product itself – residential properties. The value/originality. In summary, this study can conclude that the mechanism of functioning of the regional real estate market based on the same economic category, and national real estate market, while, at the same time, characterized by institutional and structural asymmetry incomplete. Determining the hierarchical order of formation of the real estate market relative to their territorial characteristics and volume allows us to clearly understand the scope and specific measures needed to resolve the competitive environment for them. This study allowed defining and describing the signs and positions of the various forms of competitive real estate market participants.