Resort Real Estate Market: Russian Experience and Foreign Practice

The article presents the results of the study, the purpose of which was to verify the specifics of the domestic resort real estate market in the focus of a comparative analysis with a similar market abroad. Based on the comparison of statistical data characterizing the state of the resort real estate market in Russia and a number of foreign countries, the author demonstrated the current state of the apartment market in Russia, its trends and features. Based on the results of the study, it was found that the resort real estate market in Russia is only at the initial stage of its development, while it operates quite actively only in eight regions of the country. The leaders among the regions offering resort real estate to investors are the Kemerovo, Kaliningrad and Leningrad regions, consolidating more than half of the domestic supply on the market. The specificity of the offer of the domestic resort real estate market, which distinguishes it from the foreign market, is a smaller lot size of the real estate area, a lower price per square meter, a smaller set of product characteristics of the apartment project. The study also identified and described the key factors determining the further development of the resort real estate market in Russia.