Authors : Vladimir A. Kalugin, Darya I. Korolkova, Julia V. Lyschikova and Dmitriy N. Zaloznev
Abstract: The objective of this study consists in the analysis of the housing affordability for the population of the Belgorod region with the use of the mortgage lending system and development of proposals concerning the enhancement of the methods of providing citizens with affordable housing. The following results are presented in the study: estimation of the possibility to purchase an apartment using the mortgage lending for an average-sized family from the Belgorod region on the basis of the affordability Index Analysis (HAI) traditionally used in the Foreign practice; estimation of the share of families that are able to purchase an apartment using the mortgage lending in the Belgrade region based on the analysis of the indicator ‘Minimum aggregate monthly family income’. It was established that housing is affordable to 19% of the population only upon the minimum amount of the initial payment. The study discusses the priority necessity of formation of the structure of the rental housing market providing for the variety of proposals and demand stimulation on the basis of the public private partnership implemented according to different models as well as the necessity of specifying the criteria of the efficiency of construction of rental housing in the region; it was shown that upon the state support the rental payments will be much lower than the annuity payment in case of the mortgage lending.
Vladimir A. Kalugin, Darya I. Korolkova, Julia V. Lyschikova and Dmitriy N. Zaloznev, 2015. Evaluation of the Tools of Ensuring the Housing Affordability. International Business Management, 9: 1177-1181.