Government regulation in the housing sector: Foreign experience and Ukrainian practice

Резюме

The article is devoted to state regulation in the housing sector. The aim of the article is to study the main mechanisms of state regulation of demand for residential real estate based on the analysis of foreign experience and analysis of the use of these mechanisms in the realities of modern Ukraine. To achieve this goal, the experience of European countries and the United States in using schemes to support the purchase / rental of housing was analyzed. The experience of Poland in regulating relations in the housing market is considered in detail. It is established that in all analyzed countries the state directly or indirectly regulates the processes in the housing market. The degree of state intervention in market processes is different. The experience of the functioning of state housing programs in Ukraine and the level of funding for them are tudied. At the heart of the implementation of all programs is a mechanism for providing citizens in need of better housing conditions, state support in the form of soft loans, compensation for mortgage interest rates, or part of the cost of housing. An analysis of existing state housing programs in Ukraine has confirmed a significant level of underfunding of planned budget expenditures, as well as limited access to these programs due to the need for a mandatory down payment. Also, the analysis of existing state housing programs showed that the country’s rental market is poorly regulated, and the state does not act as an active player, examples of which we see in European countries, Germany, Poland, France. However, the problem of the rental market in Ukraine is its shadow nature, according to which the volume and structure of houses/apartments available for rent, and the level of their rental price are unknown. All this increases the urgency of developing clear and transparent rules for the functioning of the rental housing market by the legal authorities, which should motivate all members of these market to act due to them.