Modeling the cost of residential real estate on the Kaliningrad market in the conditions of increasing tourist flow to the region

Indirectly related to the coronavirus pandemic in 2020-2021, sanctions, as well as to restrictions on the Russians entry to a number of foreign countries, the domestic tourism development in the Russian Federation has now de facto turned the Kaliningrad region to a touristattractive one. Over the last five years the domestic tourist flow to the region has increased significantly, so according to experts' estimates over two million tourists visited the Kaliningrad region in 2023. At the same time, the interest of tourists and locals in residential real estate has grown, which has led to an increase in prices on the market. The growth of tourist flow has a multidirectional impact on the regional economy. In the course of the conducted research the hypotheses of the various factors impact on apartment prices in Kaliningrad for 2018-2024 were tested. Particularly, trends of indicators, linear regression models in natural and standardized forms, non-linear regression models with robust standard errors (HAC)for as of 2018 and 2024 were analyzed on the econometric modeling basis with use Gretl, Excel, Statistica packages. The research confirmed the hypothesis of significant changes that occurred during the analyzed period in terms of the statistically significant factors influence on the apartments cost in Kaliningrad city. The tourism impact on the Kaliningrad real estate market indicates a trend gaining momentums in the investment behavior of Russians: lifestyle for several regions in the so-called “summer” and “winter” apartments; an apartments purchase for subsequent renting and some others.