Analysis of the development prospects of the rental real estate market (on the example of the Smolensk region)

Subject. The issues considered in the article are related to the analysis and forecast of the prospects for the development of the rental property market. The study analyzes both European trends and the state of the Russian real estate market. The relevance of this issue is due to the influence that the real estate market has on the territorial socio-economic development of the region and the country as a whole. The real estate market makes a significant contribution to the regional gross product, provides significant replenishment of local budgets, helps to increase the number of jobs and meet the needs of the population for housing, stimulates the development of the construction business. Unlike a number of European countries, the share of rented housing in Russia is significantly lower, although in recent years there has been a positive trend in this indicator for both the volume of rented housing and commercial real estate. There are also changes in the cost of rent, which depends on the economy of the region and its geographic location. The features of regional rental property markets are considered using the example of the Smolensk region. Methodology. The methods of statistical analysis and regression modeling are used as research methods. Results. Research has shown that since 2016, the Smolensk region has seen a steady increase in demand for rental property, especially from students, young professionals and migrant workers. Smolensk, as a regional center with a number of large educational institutions and a developing labor market, attracts students and professionals from all over the region. During the period under review, there was a significant increase in the volume of rented housing and commercial premises and an increase in rental costs. One of the key factors that influenced the growth in popularity of rental property was the improvement of urban infrastructure. In recent years, new residential neighborhoods with convenient transport accessibility and developed social infrastructure have been actively built in Smolensk. The development of the region's rental property market is noticeably influenced by new digital technologies, which make it possible to simplify and make more transparent all processes of choosing and long-term renting housing and commercial property. Speaking about the prospects for the development of the rental property market in Smolensk, we can confidently predict further growth in both the residential and commercial segments. Conclusions. The research conducted in the work can be used to develop strategic plans for solving problems in the development of the real estate market in the region.