ИСТИНА

Housing construction in the Moscow agglomeration is closely linked to the migration to the capital region. The acquisition of real estate by nonresident buyers in the primary market of the Moscow region (annually 2.0-2.5 mln m2, or 17% of transactions in Moscow and 23% in Moscow oblast) provides housing for about 100000 migrants per year, or 40% of the net migration inflow. Spatial differentiation of buyers in the capital real estate market by the Russian regions is estimated by the addresses of their initial registration. It is determined by the factors of natural rents, agglomeration economies, status rents in large cities, as well as distance from Moscow. Factor of natural rents is evident in high share of housing buyers in Moscow from Khanty-Mansi and Yamalo-Nenets autonomous okrugs (6.4%, 4 times higher than their share in population). Share of buyers from first-order neighboring regions (14.2%) exceeds their share in the population by 2.1 times due to factor of distance. Highest activity in the housing market of Moscow is characteristic for residents of cities with population of 250-500 thou. people, in Moscow oblast for smaller cities (100-250 thou. people). The share of buyers from million-plus cities (17.7 %) is only slightly greater than their share in the population. Residents of small towns and rural areas provide weak buying activity in the housing market. Development of alternative centers of attraction at the national level is associated with a change in migration incentives for residents of cities with population of 100-500 thou. people. https://docs.google.com/document/d/1HtD1pMDKFO9cLtiVCZjda4tucvAmKnqVCNxAU6m6qTU/edit