DETERMINING FACTORS OF CONSTRUCTION MARKET DEVELOPMENT

Authors

  • O. Voronkov O.M. Beketov National University of Urban Economy in Kharkiv
  • B. Dolyna O.M. Beketov National University of Urban Economy in Kharkiv

DOI:

https://doi.org/10.33042/2522-1809-2022-2-169-15-21

Keywords:

construction market, construction products, correlation analysis, profitability, investments.

Abstract

The article reviews the scientific literature on the study of factors in the development of construction markets. The analysis of trends in the development of the construction market in Ukraine was carried out, according to the results of which it was established that this market is rapidly developing today. The structure of the completed construction work has been investigated, as a result of which it has been established that in recent years there has been an increase in the share of construction of engineering structures. In the structure of work on the construction of buildings, the share of construction of non-residential objects is growing, and the share of residential construction is decreasing. A hypothesis about the structure of factors influencing the development of the construction market is considered. Selected factors are systematized into categories such as financial, economic and social. The results of the correlation analysis of factors influencing the development of the construction market are presented. It was found that such factors as average wages, incomes and expenses of the population, gross domestic product, index of construction products and population size have a high level of correlation between the resulting indicator of the development of the construction market. Correlation analysis of selected factors showed a close correlation between them and the resulting indicator of the construction market. Conclusions are drawn and prospects for the development of the research are determined. According to the results of the study the goals and objectives of further study of the factors of development of construction markets are determined. This is a key decision in developing a strategy for development over a long period of time.

Author Biographies

O. Voronkov, O.M. Beketov National University of Urban Economy in Kharkiv

PhD, Associate Professor, Associate Professor of the Department

B. Dolyna, O.M. Beketov National University of Urban Economy in Kharkiv

PhD Student

References

Kavun, V.A. (2017), Analiz suchasnoho stanu ta tendentsii rozvytku budivelnoi haluzi Ukrainy. Tezy V mizhnar. nauk.-tekhn. konf. “Formuvannia efektyvnoi modeli rozvytku pidpryiemstva v umovakh rynkovoi ekonomiky”, Zhytomyr, 2–3 lystopada 2017 r. Zhytomyr, 99–103. [in Ukrainian]

Fox, Paul & Skitmore, Martin. (2007). Factors Facilitating Construction Industry Development. Building Research and Information, 35(2), 178–188. DOI: https://doi.org/10.1080/09613210600980192

Ofori, George & Lean, Chan. (2001). Factors influencing development of construction enterprises in Singapore. Construction Management & Economics, 19, 145–154. DOI: https://doi.org/10.1080/01446190150505072

Balamurugan, P., Nazir, Abrar, Mathan, K., Kabilesh Indrajith, A. (2020). Factors influencing in construction industry. International Research Journal of Engineering and Technology (IRJET), 07(04), 3983–3989. URL: https://www.irjet.net/archives/V7/i4/IRJET-V7I4765.pdf

Galchinskiy, L.Yu., Stanislavchuk, Y.S. (2013) Factor analysis of price formation in the construction market in Ukraine. Business Inform, 6, 187–190. URL: http://www.business-inform.net/export_pdf/business-inform-2013-6_0-pages-187_190.pdf [in Ukrainian]

Rizva, L.A. (2018). The transformational dynamics of quantitative and qualitative parameters of the Ukrainian real estate market. Business Inform, 9, 127–131. URL: https://www.business-inform.net/export_pdf/business-inform-2018-9_0-pages-127_131.pdf [in Ukrainian]

Horbal, N.I., Romanyshyn, S.B., Shalin, A.S. (2019). Ukrainian real estate market: tendencies and prospects. Business Inform, 3, 149–154. DOI: https://doi.org/10.32983/2222-4459-2019-3-149-154 [in Russian]

Soewin, E., Chinda, T. (2018). Factors affecting construction performance: exploratory factor analysis. IOP Conference Series: Earth and Environmental Science, 140(1), 012102. DOI: http://dx.doi.org/10.1088/1755-1315/140/1/012102

Kulikova, L. (2017). Current trends in construction enterprises. Investytsiyi: praktyka ta dosvid, 8, 52–55. URL: http://www.investplan.com.ua/pdf/8_2017/12.pdf [in Ukrainian]

Shubyonkina, V.A. (2016). Tendencies of development of the building complex of Ukraine. Young Scientist, 8(35), 55–58. URL: http://molodyvcheny.in.ua/files/journal/2016/8/13.pdf

Published

2022-03-25

How to Cite

Voronkov, O., & Dolyna, B. (2022). DETERMINING FACTORS OF CONSTRUCTION MARKET DEVELOPMENT. Municipal Economy of Cities, 2(169), 15–21. https://doi.org/10.33042/2522-1809-2022-2-169-15-21