UDC 332

THE LAND MARKET OF THE REGION: THE CONCEPT, THE ESSENCE, THE MAIN PARTICIPANTS

Vilisova Anna Sergeevna
Ural State Economic University

Abstract
This article focuses on the concept of "the Land market in the region," the disclosure of the nature of the land market in the region, as well as the main participants of land market in the region.

Category: 08.00.00 Economics

Article reference:
The land market of the region: the concept, the essence, the main participants // Modern scientific researches and innovations. 2017. № 1 [Electronic journal]. URL: http://web.snauka.ru/en/issues/2017/01/77246

View this article in Russian

Today the earth occupies a leading position in the system of immovable property. The earth is a natural created by nature resource, which are its elements, as well as people. Land is the source of human well-being, as well as an object of economic relations in the system of immovable property.

The specific feature of real estate is that land has appeared in the form of matter and with the development of society became a subject of labor, means of production, as well as a place to stay for many generations.

On the real estate market of the subject of economic relations are the land. It should be noted that land have their consumer properties, and rights.

The real estate market – is a set of activities through which buyers and sellers meet to determine price of real estate for subsequent exchange[9, p. 160].

The real estate market is the economic and legal field in which there is interaction between supply and demand and buyers and sellers for the further implementation of real estate transactions [3, p. 32].

The land is part of the earth’s surface, having the fixed border, the area, location, legal status and other characteristics [8, p. 9].

In order to understand what the land market of the region need to define the concepts of “Market”, “Land”, “Region”. The concept of land was given above.

The market is a place where the contact between buyers and sellers of goods and services [4, p. 16].

The land market is a market where is bought and sold land shares (shares) the redemption of them.

The region is a localized part of the territory with the unity and interconnection of its constituent elements, as well as integrity [ 2, p.57].

The region is part of the territory with a more or less homogeneous natural conditions, specific economic, demographic, historical context, which operates on a specific set of industries, production and social infrastructure [6, p. 17].

So, from the definitions above you can define what is “the Land market in the region.”

The land market in the region is a set of economic, legal transactions, arising in the process of buying or selling land plots on the territory with a more or less homogeneous natural conditions, specific economic, demographic, and historical conditions.

The land market is a segment of the real estate market. Also, it has its objects, subjects, the legal rules that govern this market.

The land market serves as a Foundation for the construction market and business, as it helps them to grow [8, p.54].

In order for a land market was considered to be developed it must include legislation that regulates its activity.

In the land legislation of the Russian Federation is represented by 3 main groups of actors of the land market. These include[8, p. 55]:

- the Russian Federation itself and its entities. On behalf of the Russian Federation there may be the President, the Federation Council, the State Duma. On behalf of the constituent entities of the Russian Federation are the state bodies of city, district and settlement;

- legal entity – may from both the Russian Federation and foreign;

- the citizens themselves, in the face of families, peoples, and foreign nationals.

To summarize, in General, represents the land market, we can conclude that this means the redistribution of land between their owners. And it helps them available in the land market competitive demand and the competitive offer.

Economic actors in the land market of the region are: the buyers (tenants) and sellers (landlords) and professional participants of the land market[1, p. 305].

The buyer is a natural or legal person who carries out and is the purchaser of the land in the land market [1, p. 143].

The seller is a physical person or legal entity who interacts with the buyer in the land market, for the subsequent sale of the land to him. The subject of the land market has the right of ownership of the land which he sells [11, p. 143].

In the land market, there are also professional players. The composition of these participants is determined by the processes that occur in the land market with the participation of the state, as well as the classification of businesses and activities that they carry out. Accordingly, professional participants of the land market can be divided into those that operate on the basis of the interests of the state and act on its behalf – institutional participants and participants who do not represent the interests of the state and operate on a commercial basis, i.e. the main purpose of which is to achieve the greatest profits – not institutional members.

Composition of the institutional actors in the land market:[5, C. 145].

- state registration of rights to immovable property and transactions with it;

- organizations that regulate urban development, land management and land use, zoning, design, land acquisition;

- Federal and regional bodies of architecture and urban planning dealing with the approval and agreement of development plans for development of territories and settlements, the creation of the urban cadastre, the issuance of building permits.

The non-institutional members, operating on a commercial basis, are[7, p. 145]:

- entrepreneurs are individuals who have the business, whose main objective is profit. An entrepreneur can be both physical and legal persons. Also as an entrepreneur can be a unitary enterprise is a special organizational – legal form of legal entity;

- investors are natural and legal persons who carry out investments of own, borrowed or attracted funds as investments in land for future benefit;

- realtors are an individual or legal entity that professionally acts as an intermediary in transactions of purchase and sale, lease of land, by information partners on the deal and getting their Commission;

- developers are developers that are on lease, property have land and wish to develop it by building on it any object for sale fully or in parts, and leasing with a view to profit;

- redeveloper means persons engaged in the development and transformation of the territories;

- customers – individuals or legal entities implementing investment projects. They can be like the developers and persons designated by them i.e. the investors;

- the insurers – is a person engaged in insurance land, land transactions, and professional responsibility;

- appraisers are individuals who provide appraisal services for land and their value for owners, investors, buyers and sellers;

- financiers are people who are engaged in financing transactions with land plots in the land market and mortgage lending;

- analysts are people who study the land market and the information to make strategic decisions on its development;

- marketers are specialists who are engaged in the promotion of land plots in the land market through advertising and public relations;

- lawyers – specialists who handle legal aspects of mortgages and land transactions with land plots.

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References
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