The promotion specifics of the Russian real estate market: analysis of best practices and consumer preferences

The primary real estate market has shown systematic growth since 2020 due to the stimulating demand by using mortgages with state support, as well as the availability of a project financing instrument that protects the buyer from the risks of losing money invested in shared construction. At the same time, the current unstable economic situation leads to a drop in demand caused by a decrease in purchasing power and rising inflation. This dynamics primarily indicates an increased number of proposals, a high level of competition and the risk of oversaturation for developers. In the current conditions the gap emerging in the real estate market between the existing supply and real demand will only increase, which will require developers to use tools and management solutions aimed at promoting the product in the real estate market and building effective personalized communication with clients. The success of marketing tools depends on companies' focus on consumer sentiment, behavior and preferences. The presented work analyzes the civil construction industry's best practices for interaction with buyers, taking into account their emotions, expectations and concerns.

Authors

Publication Details

Journal
Vestnik BIST (Bashkir Institute of Social Technologies)
Published
2024-09-30
DOI
https://doi.org/10.47598/2078-9025-2024-3-64-49-57
Primary Topic
Economic and Technological Systems Analysis
Type
article
Field-Weighted Citation Impact
0.00
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article

The promotion specifics of the Russian real estate market: analysis of best practices and consumer preferences

Artem A. Zaikov, Ksenia A. Danilova
Vestnik BIST (Bashkir Institute of Social Technologies)
Economic and Technological Systems Analysis
article

The promotion specifics of the Russian real estate market: analysis of best practices and consumer preferences

Artem A. Zaikov, Ksenia A. Danilova
article en

Abstract

The primary real estate market has shown systematic growth since 2020 due to the stimulating demand by using mortgages with state support, as well as the availability of a project financing instrument that protects the buyer from the risks of losing money invested in shared construction. At the same time, the current unstable economic situation leads to a drop in demand caused by a decrease in purchasing power and rising inflation. This dynamics primarily indicates an increased number of proposals, a high level of competition and the risk of oversaturation for developers. In the current conditions the gap emerging in the real estate market between the existing supply and real demand will only increase, which will require developers to use tools and management solutions aimed at promoting the product in the real estate market and building effective personalized communication with clients. The success of marketing tools depends on companies' focus on consumer sentiment, behavior and preferences. The presented work analyzes the civil construction industry's best practices for interaction with buyers, taking into account their emotions, expectations and concerns.

Vestnik BIST (Bashkir Institute of Social Technologies)(3(64))
Openalex Percentile: Top 72%
Economic and Technological Systems Analysis
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