Development of a concept for defining local centers of the regional real estate market in the light of regional economic theories

One of the most important sectors of the economy is the real estate market. The most important characteristic of location as the main price-forming factor in the market is the distance to local centers, the proximity to which increases the demand for real estate. The identification of local centers of the studied territory is an urgent task to be solved in assessment, urban planning and other types of activities. The purpose of the study was to develop a concept for defining local real estate market centers in the light of regional economics theories. The objectives of the study were to generalize the theories of regional economics as a theoretical basis for determining the local centers of the regional real estate market, as well as to develop a concept for determining the local centers of the real estate market based on the results obtained. Based on the results of the study, the concept of central locations, which dominates the theory of regional economic location, was identified. Its main postulates about the existence of central places within the boundaries of the economic space are highlighted, the distance to which determines the effectiveness of the location of objects of economic activity. The main provisions of the concept of defining local centers of the real estate market are formulated. An interpretation of the concept of the local center of the regional real estate market is proposed, which differs in that it does not rely on any specific elements of the economic space. The concept of determining the local prices of the regional real estate market is proposed, which consists in determining the concentration zones of homogeneous (reference in terms of characteristics) real estate objects with maximum cost indicators.