We address in this study the question of whether significant price increases occurring during the up-phase of the property cycle can in part be explained by speculative bubble. The findings indicate that the Swedish market for income real estate may have been partly driven by a speculative...

The objective is to investigate whether uninformed buyers pay higher prices for single-family houses than do other buyers and test whether the bargaining power increases with information. We examine data on real estate prices and attributes, as well as household characteristics and buying...