Residential Real Estate Market Management Practices in Foreign Countries

The heterogeneity of residential real estate markets in foreign countries and differences in housing affordability necessitate a comparative analysis of the government instruments applied. The aim of this study is to systematize foreign approaches to regulating the residential real estate market and identify tools for adaptation in the Russian market. The methodological basis of the study consists of comparative, systemic, and institutional methods of analysis. As a result, foreign practices in regulating the residential real estate market are systematized into six areas: increasing market transparency and protecting participants' rights, insuring developers' risks, increasing the supply and affordability of rental housing, stimulating investment activity in the residential real estate market, expanding financial instruments for home purchases, and environmental and technological control of construction. The scientific novelty of the study lies in the development of a systematization of foreign practices in government regulation of the residential real estate market and the substantiation of the principle of their adaptive application, taking into account the objectives of increasing housing affordability, investment activity, and the sustainability of the Russian market. The practical significance of the results lies in the possibility of using the proposed approaches to improve the state housing and investment policy of the Russian Federation.