Russia: Urban Development and Emerging Property Markets
This publication is designed for specialists working in the field of real property economy and town-planning, both in state administration and in the private sector, as well as in research institutions. The aim of this publication is to arouse an interest in the exchange of experience and an analysis of the processes of the establishment of real property markets in Russia; therefore it is orientated towards a reasonably wide readership.
The current development of real estate markets in Russia is characterised by a lack of legal and organizational framework necessary for their formation in a civilised way. Compared to other (stock and commodity) markets, the development of this sector to a much greater extent takes illegal or semi-legal form. Real property management is shared between various bodies of state power, none of which is actually interested in establishing normal market relations in the sphere of real estate.