Cyclical processes in forming housing property markets in Ukraine

Abstract

The effective functioning of the real estate market is by far one of the most important priorities of the country, which predetermine the processes of formation of small and middle class in Ukraine. And the general development of property in its content is the main component of the needs of the population, which has an impact on the overall level of investment efforts, volumes of accumulation and consumption in the state. Today, the issue of in-depth study of the stages of formation of the residential real estate market in Ukraine, as well as its economic, historical, and social characteristics, is relevant. After all, the actual situation of the housing market is rather unstable and is characterised by inability to self-regulate. It is known, that during the time of the centralised and planned economic system implemented by the Soviet Union, the state itself assumed responsibility for providing housing to the population. The state in the residential sector acted as the main investor in the construction industry, served as a developer and contractor, and most importantly - it was the owner of the vast majority of residential properties.