The role of the real estate market in the state economy

The real estate market is a key element of the economy and a part of the national wealth of a state. Its role is determined by the importance of meeting the needs of the society in the residential and non-residential premises, the share of the sector in the GDP, the multiplier effect on related industries, etc. The article analyses statistical data for the period from 2010 to 2015 regarding the volume of housing construction in operation, the volume of provided mortgage loans, the rate of price increase. On the basis of the multiplicative effect data, the author concludes that there is a need for public support of the real estate market in the aspects of demand and supply.