title: ÐÑÐµÐ½ÐºÐ° Ð°Ð»ÑÑÐµÑÐ½Ð°ÑÐ¸Ð²Ð½ÑÑ ÑÐ¿Ð¾ÑÐ¾Ð±Ð¾Ð² Ð¸Ð½Ð²ÐµÑÑÐ¸ÑÐ¾Ð²Ð°Ð½Ð¸Ñ Ð² Ð±Ð¸Ð·Ð½ÐµÑ Ð¿ÑÐ¾ÐµÐºÑÑ Ð½Ð° Ð¿ÑÐ¸Ð¼ÐµÑÐµ ÑÑÐ½ÐºÐ° Ð½ÐµÐ´Ð²Ð¸Ð¶Ð¸Ð¼Ð¾ÑÑÐ¸
title: Ð²ÑÐ¿ÑÑÐºÐ½Ð°Ñ ÐºÐ²Ð°Ð»Ð¸ÑÐ¸ÐºÐ°ÑÐ¸Ð¾Ð½Ð½Ð°Ñ ÑÐ°Ð±Ð¾ÑÐ° Ð±Ð°ÐºÐ°Ð»Ð°Ð²ÑÐ°
titleType: Subtitle
title: Evaluation of alternative ways of investing in business projects on the example of the real estate market
Creators: name: ÐÑÑÐ¼Ð°ÐºÐ¸Ð½Ð°, ÐÐ½Ð½Ð°
Publisher: name: Ð¡Ð°Ð½ÐºÑ-ÐÐµÑÐµÑÐ±ÑÑÐ³ÑÐºÐ¸Ð¹ Ð¿Ð¾Ð»Ð¸ÑÐµÑÐ½Ð¸ÑÐµÑÐºÐ¸Ð¹ ÑÐ½Ð¸Ð²ÐµÑÑÐ¸ÑÐµÑ ÐÐµÑÑÐ° ÐÐµÐ»Ð¸ÐºÐ¾Ð³Ð¾
Year: 2020
Subjects: Ð¸Ð½Ð²ÐµÑÑÐ¸ÑÐ¸Ð¸
Ð°Ð»ÑÑÐµÑÐ½Ð°ÑÐ¸Ð²Ð½ÑÐµ ÑÐ¿Ð¾ÑÐ¾Ð±Ñ/ÑÑÑÐ°ÑÐµÐ³Ð¸Ð¸ Ð¸Ð½Ð²ÐµÑÑÐ¸ÑÐ¾Ð²Ð°Ð½Ð¸Ñ
ÑÑÐ½Ð¾Ðº Ð¶Ð¸Ð»Ð¾Ð¹ Ð½ÐµÐ´Ð²Ð¸Ð¶Ð¸Ð¼Ð¾ÑÑÐ¸
Ð¾ÑÐµÐ½ÐºÐ° ÑÑÑÐµÐºÑÐ¸Ð²Ð½Ð¾ÑÑÐ¸ Ð±Ð¸Ð·Ð½ÐµÑ-Ð¿ÑÐ¾ÐµÐºÑÐ°
Ð°Ð½Ð°Ð»Ð¸Ð· ÑÑÐ²ÑÑÐ²Ð¸ÑÐµÐ»ÑÐ½Ð¾ÑÑÐ¸ Ð¿ÑÐ¾ÐµÐºÑÐ°
investments
alternative investment methods/strategies
residential real estate market
business project performance assessment
project sensitivity analysis

description: ÐÐ°Ð½Ð½Ð°Ñ ÑÐ°Ð±Ð¾ÑÐ° Ð¿Ð¾ÑÐ²ÑÑÐµÐ½Ð° Ð¾ÑÐµÐ½ÐºÐµ ÑÑÑÐµÐºÑÐ¸Ð²Ð½Ð¾ÑÑÐ¸ Ð²Ð»Ð¾Ð¶ÐµÐ½Ð¸Ñ ÑÐ¸Ð½Ð°Ð½ÑÐ¾Ð²ÑÑ ÑÐµÑÑÑÑÐ¾Ð² ÑÐ¾ÑÑÐ¸Ð¹ÑÐºÐ¸Ñ Ð¸Ð½Ð²ÐµÑÑÐ¾ÑÐ¾Ð² Ð² Ð·Ð°ÑÑÐ±ÐµÐ¶Ð½ÑÐ¹ ÑÑÐ½Ð¾Ðº Ð½ÐµÐ´Ð²Ð¸Ð¶Ð¸Ð¼Ð¾ÑÑÐ¸ ÐºÐ°Ðº Ð°Ð»ÑÑÐµÑÐ½Ð°ÑÐ¸Ð²Ð½Ð¾Ð³Ð¾ Ð¸Ð½ÑÑÑÑÐ¼ÐµÐ½ÑÐ° ÑÐ¸ÑÑÐµÐ¼Ñ ÑÐ°Ð·Ð»Ð¸ÑÐ½ÑÑ ÑÐ¿Ð¾ÑÐ¾Ð±Ð¾Ð² Ð¸ Ð²Ð¸Ð´Ð¾Ð² Ð¸Ð½Ð²ÐµÑÑÐ¸ÑÐ¾Ð²Ð°Ð½Ð¸Ñ. 
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1. ÐÐ·ÑÑÐµÐ½Ð¸Ðµ ÑÑÑÐ½Ð¾ÑÑÐ¸ Ð¸Ð½Ð²ÐµÑÑÐ¸ÑÐ¸Ð¾Ð½Ð½Ð¾Ð¹ Ð´ÐµÑÑÐµÐ»ÑÐ½Ð¾ÑÑÐ¸.
2. ÐÐ·ÑÑÐµÐ½Ð¸Ðµ ÑÑÐ½ÐºÐ° Ð½ÐµÐ´Ð²Ð¸Ð¶Ð¸Ð¼Ð¾ÑÑÐ¸ ÐºÐ°Ðº Ð¾Ð±ÑÐµÐºÑÐ° Ð¸Ð½Ð²ÐµÑÑÐ¸ÑÐ¾Ð²Ð°Ð½Ð¸Ñ ÑÐ¸Ð·Ð¸ÑÐµÑÐºÐ¸Ñ Ð»Ð¸Ñ. ÐÑÐ¾Ð²ÐµÐ´ÐµÐ½Ð¸Ðµ Ð°Ð½Ð°Ð»Ð¸Ð·Ð° ÑÑÐ»Ð¾Ð²Ð¸Ð¹ Ð¸Ð½Ð²ÐµÑÑÐ¸ÑÐ¸Ð¾Ð½Ð½Ð¾Ð¹ Ð¿ÑÐ¸Ð²Ð»ÐµÐºÐ°ÑÐµÐ»ÑÐ½Ð¾ÑÑÐ¸ ÑÑÑÐ°Ð½-ÑÐµÑÐ¸Ð¿Ð¸ÐµÐ½ÑÐ¾Ð² Ñ ÑÐµÐ»ÑÑ Ð²Ð»Ð¾Ð¶ÐµÐ½Ð¸Ð¹ Ð² Ð¶Ð¸Ð»ÑÑ Ð½ÐµÐ´Ð²Ð¸Ð¶Ð¸Ð¼Ð¾ÑÑÑ.
3. Ð Ð°ÑÑÐµÑ Ð¿Ð¾ÐºÐ°Ð·Ð°ÑÐµÐ»ÐµÐ¹ ÑÑÑÐµÐºÑÐ¸Ð²Ð½Ð¾ÑÑÐ¸ Ð¸Ð½Ð²ÐµÑÑÐ¸ÑÐ¾Ð²Ð°Ð½Ð¸Ñ Ð² Ð·Ð°ÑÑÐ±ÐµÐ¶Ð½ÑÐ¹ Ð¸ ÑÐ¾ÑÑÐ¸Ð¹ÑÐºÐ¸Ð¹ ÑÑÐ½ÐºÐ¸ Ð¶Ð¸Ð»Ð¾Ð¹ Ð½ÐµÐ´Ð²Ð¸Ð¶Ð¸Ð¼Ð¾ÑÑÐ¸ Ð½Ð° Ð¿ÑÐ¸Ð¼ÐµÑÐµ Ð¿ÑÐ¾ÐµÐºÑÐ¾Ð² Ð´Ð¾Ð±Ð°Ð²Ð»ÐµÐ½Ð½Ð¾Ð¹ ÑÑÐ¾Ð¸Ð¼Ð¾ÑÑÐ¸ (Ð´ÐµÐ²ÐµÐ»Ð¾Ð¿Ð¼ÐµÐ½ÑÐ° Ð¸ ÑÐµÐ´ÐµÐ²ÐµÐ»Ð¾Ð¿Ð¼ÐµÐ½ÑÐ°).
Ð ÑÐ°Ð±Ð¾ÑÐµ Ð²ÑÐ¿Ð¾Ð»Ð½ÐµÐ½ ÑÑÐ°Ð²Ð½Ð¸ÑÐµÐ»ÑÐ½ÑÐ¹ Ð°Ð½Ð°Ð»Ð¸Ð· Ð´Ð¾ÑÐ¾Ð´Ð½Ð¾ÑÑÐ¸ Ð¸Ð½Ð²ÐµÑÑÐ¸ÑÐ¾Ð²Ð°Ð½Ð¸Ñ Ð² Ð¶Ð¸Ð»ÑÑ Ð½ÐµÐ´Ð²Ð¸Ð¶Ð¸Ð¼Ð¾ÑÑÑ Ð½Ð° Ð¿ÑÐ¸Ð¼ÐµÑÐµ Ð¿ÑÐ¾ÐµÐºÑÐ¾Ð² Ð´Ð¾Ð±Ð°Ð²Ð»ÐµÐ½Ð½Ð¾Ð¹ ÑÑÐ¾Ð¸Ð¼Ð¾ÑÑÐ¸. Ð ÐºÐ°ÑÐµÑÑÐ²Ðµ Ð±Ð°Ð·Ñ Ð´Ð»Ñ ÑÑÐ°Ð²Ð½ÐµÐ½Ð¸Ñ Ð¸ÑÐ¿Ð¾Ð»ÑÐ·Ð¾Ð²Ð°Ð»Ð¸ÑÑ Ð¿ÑÐ¾ÐµÐºÑÑ, ÑÐµÐ°Ð»Ð¸Ð·Ð¾Ð²Ð°Ð½Ð½ÑÐµ Ð² ÑÑÑÐ°Ð½Ð°Ñ Ñ ÑÐ°Ð·Ð½ÑÐ¼ ÑÑÐ¾Ð²Ð½ÐµÐ¼ Â«Ð¿ÑÐ¾Ð·ÑÐ°ÑÐ½Ð¾ÑÑÐ¸Â» ÑÑÐ½ÐºÐ° Ð½ÐµÐ´Ð²Ð¸Ð¶Ð¸Ð¼Ð¾ÑÑÐ¸ (ÐÐµÑÐ¼Ð°Ð½Ð¸Ñ, ÐÑÐ¿Ð°Ð½Ð¸Ñ Ð¸ Ð Ð¾ÑÑÐ¸Ñ). Ð¢Ð°ÐºÐ¶Ðµ, ÑÐ°ÑÑÑÐ¸ÑÐ°Ð½Ñ Ð¿Ð¾ÐºÐ°Ð·Ð°ÑÐµÐ»Ð¸ ÑÑÑÐµÐºÑÐ¸Ð²Ð½Ð¾ÑÑÐ¸ Ð±Ð¸Ð·Ð½ÐµÑ-Ð¿ÑÐ¾ÐµÐºÑÐ¾Ð² Ð´Ð¾Ð±Ð°Ð²Ð»ÐµÐ½Ð½Ð¾Ð¹ ÑÑÐ¾Ð¸Ð¼Ð¾ÑÑÐ¸, Ð¿ÑÐ¾Ð²ÐµÐ´ÐµÐ½ Ð°Ð½Ð°Ð»Ð¸Ð· ÑÑÐ²ÑÑÐ²Ð¸ÑÐµÐ»ÑÐ½Ð¾ÑÑÐ¸ Ð¿Ð¾ÐºÐ°Ð·Ð°ÑÐµÐ»ÐµÐ¹ ÑÑÑÐµÐºÑÐ¸Ð²Ð½Ð¾ÑÑÐ¸ Ðº Ð¸Ð·Ð¼ÐµÐ½ÐµÐ½Ð¸Ñ Ð¾ÑÐ½Ð¾Ð²Ð½ÑÑ ÑÐ°ÐºÑÐ¾ÑÐ¾Ð², Ð²Ð»Ð¸ÑÑÑÐ¸Ñ Ð½Ð° ÑÐµÐ°Ð»Ð¸Ð·Ð°ÑÐ¸Ñ Ð¿ÑÐ¾ÐµÐºÑÐ°.
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description: This paper is devoted to evaluating the effectiveness of investing financial resources of Russian investors in the foreign real estate market as an alternative tool for various ways and types of investment. The research set the following goals:
1. Studying the essence of investment activity.
2. Studying the real estate market as an object of investment. Analysis of investment attractiveness conditions of recipient countries in order to invest in residential real estate market.
3. Calculation of investment performance indicators in foreign and Russian residential real estate markets on the example of value-added projects (development and redevelopment).
The paper provides a comparative analysis of the profitability of investment in residential real estate on the example of various value-added projects. As a base for comparison, we used business projects implemented in countries with different levels of "transparency " of the real estate market (Germany, Spain and Russia). In addition, the paper calculates the performance indicators of investment projects of added value, analyzes the sensitivity of performance indicators to changes in the main factors affecting the implementation of the project.
The author came to the conclusion: using an alternative method of investment in the form of a value-added project will provide the Russian investor with a return of 15-25% per annum, which exceeds the average level of deposit rates, currently existing within the credit segment of the Russian financial market for individuals. This (high) level of profitability in the current economic conditions can be achieved both in the Russian and foreign residential real estate markets. Based on the results of value-added projects sensitivity analysis, it was concluded that the performance indicators of such investment projects are most sensitive to changes in parameters such as project duration and the sale price of the property.