Секция
- “Экономические науки»
Подсекция
– 13. Региональная экономика
Razumova A.V.
Improvement of purchase conditions of dwelling by the population
The problem of my research is connected with the conditions of housing
sector in
At the beginning of 2006 73720 families and single people are fixed in
turn of getting dwelling in Dnipropetrovsk region. The significant part of them
(64,6 thousand people) was on the account of getting dwelling for social purpose
(free of charge). Another part (9,1 thousand people) is in turn of getting
dwelling in housing-construction co-operatives. More than a quarter of families
and single people which are in turn on receiving dwelling have the priority
rights.
The housing problem solution rate sharp declined during 1990-
In 2006 against 2005, the average monthly salary for working citizen in Dnipropetrovsk
region amounted to 1139,05
grn., having increased by 24,7%. At the same time, the average cost of one
square meter on city has made 800 US dollars (4000 grn.).
In the solution of housing problem the significant role is played the
maintenance and safety of existing housing. During 2006 it has been spent 230,4
thousand grn. for capital rebuilding of the living space fund in
The rate of house building sharp falling from the 1990 and it is one
more reason of increasing in demand and therefore escalation house prices. If
in
Mortgage crediting is the possibility of granting to private persons to
have long-term credits for dwelling purchase on the security of received
dwelling.
However, despite of different advantages, the hypothec crediting is
accessible not to everybody because the habitation which is under the programs
offered now by the Ukrainian banks and financial establishments, considerably
raises changes in price. The high cost of hypothec credits is caused by the
fact that forming resources due to deposits in cost of 9-10 % the Ukrainian
banks cannot give long-term credits under 6 % annual (as in the USA). Besides the
short-term character of deposits creates for the banks which are giving out
credits for 10 years, additional risk of decrease in liquidity. In spite of the
fact that at present the financial market is accessible for foreign banks, from
the point of view of experts, in the nearest future the rates under hypothec
credits can decrease by 1-2 %.
One of the ways that
makes loans substantially cheaper and helps to raise money for terms comparable
to the loan “length” is a securitisation. Such operation was carried out in the
Securitization is an
operation of bonds issuing secured by credits given earlier. Sometimes such
operation is conducted not only by bank but by an enterprise and agreements on
equipment supplies which usually serve as a mortgage. Bonds are sold to all
persons interested and an emitter receives money that can be directed at new
loans delivering as well as production development. He guarantees that in case
he is not able to carry out his obligations to bonds buyer he will return money
after mortgage object is sold.
Securitization allows to
obviate this terms gap because securities are issued for the same approximate
“length” as assets by which they are secured. If hypothec credit is given for
ten years bonds secured by it are issued for the term of nine years. Securitization
has some other advantages. For example, an emitter receives at his disposal a
sum that approximates to an amount of securing. As a result this money can be
reinvested and general income can be increased owing to turnover
growth.
Thus, taking into account insignificant volumes of construction,
condition existing available housing and adverse situation for building
development, the housing problem will remain urgent for long time. To lower
dwelling cost, it is necessary to solve a problem of mass housing construction,
in this process the state should play the leading part.
First, this is change of the existing imperfect legislation in sphere of
land relations and constructions. It is necessary to adopt the laws, which must
strictly regulate the building market activity. Improvement and adjustment the level
of financial institutions development to modern requirements is important too.
At the same time, we should preserve the system of providing
accommodation for the least protected groups of population, which will be
financed by state and local budgets. Special attention should be paid to
stimulating private building in the countryside, providing accommodation for
servicemen and supporting house-building for youth. Active housing policies,
transition to large-scale house building are a key factor of general
enhancement of economy, intensification of the domestic market development and
reinforcement of its social orientation.
The problems of the real estate market development consist in the fact
that it should become the tool of maintenance of the population habitation, and
also have strong support on behalf of the state. The institute of habitation
should have the basic function - maintenance of the population with habitation.
Literature:
1.
Статистичний
довідник «Дніпропетровщина у цифрах у 2006 році» // Відповід. за випуск І.В.Почиталіна. – Дніпропетровськ.: Головне
управління статистики у Дніпропетровській області. – 2007. – 200 с.
2.
Статистичний
щорічник Дніпропетровськой області за 2005 рік // За ред. О.Г. Осауленка. – К.:
Вид-во “Консультант”, 2006. – 631с.
3. Климов В. Ипотечное кредитование:
Ключ к доступному жилью? / Строительная газета. - №46.- с.11.