Housing construction in the present-day context of decelerating economic growth

Abstract

Abstract Introduction. The unwanted slowdown of the housing construction process, triggered by the coronavirus crisis, does not cancel the tasks set by the national project “Housing and the Urban Environment”. The practical analysis of the housing sector has confirmed that the economic recovery of the housing construction industry cannot be regarded as an outcome of inconsistent measures. The novelty of the approach lies in the identification of the most problematic development hurdles and their comprehensive overcoming in the context of digital transformation of residential development projects, which contributes to effective demand, optimizes the distribution of risk between construction work participants and expands the use of preventive mechanisms for the out-of-court settlement of commercial disputes arising in the construction sector. Materials and methods. A quick analysis of the current situation in the housing sector, including the one in the regions, has identified the most important factors hindering the growth of business activities in this industry. Methods of systems analysis, adjusted in terms of time and space, made it possible to apply situational analysis tools to the housing construction sector. Results. A repeated discussion of the reasons for the contraction of housing construction which is underway on discussion platforms of the Ministry of Construction of the Russian Federation, NOSTROY, RANEPA, MGSU, etc. has revealed that the comprehensive implementation of aggregated effects that accompany the transition to project funding is impossible without the implementation of the principle of “risk symmetry”, effective demand support, prevention of conflicts of interests between construction participants and the practical implementation of the potential of digital transformation of investment and construction processes in the project format at all stages of the life cycle of a construction project. Conclusions. The nurture of a qualitatively new digital environment in the housing sector will change not only its planning, controlling and expert functions, but also the evaluation and communication mechanisms, as it contributes to reduction of transaction and operational costs, boosts the efficiency and objectivity of construction control, increases trust and partnership solidarity, narrows the scope of litigation and reduces the number of bankruptcies, etc., thus, setting the stage for an accelerated recovery and growth of the housing construction.