К теории рынка жилья: модель дифференциации цен на квартиры в зависимости от их готовности

We propose a model of a firm that differentiates prices for finished and unfinished housing. The demand for housing is formed by consumers solving a dynamic utility maximization problem. The proposed formulation of this problem takes into account the fact that the purchased apartment may be available for consumption only after a certain time. In this case, at the moment of receiving the ready-made apartment the consumer gets rid of the need to pay the rent for the apartment in which he previously lived. Numerical calculations based on the data typical for the Moscow housing market have shown that relatively poor segments of the population prefer to pay for the apartment when it is not ready. At the same time the lower the rent rate, the higher the price of unfinished apartments and the relatively lower the share of consumers who prefer to buy them