Die Steigerung der energetischen Modernisierungsrate im Wohngebäudebestand zählt zu den strategischen Zielen der Klimapolitik in Deutschland. Gemessen am Anteil von WEG-Wohnungen am Gesamtwohnungsbestand ist die Sanierungsaktivität dieser Eigentümergruppe im Vergleich zu anderen Gruppen...

We estimate empirically the effect of immigration on house prices and residential construction activity in Spain over the period 1998-2008. This decade is characterized by both a spectacular housing market boom and a stunning immigration wave. We exploit the variation in immigration across...

This report describes a fiscal impact study done for the City of San Jose, California, in 2003-2004, a time when the city was reeling from fiscal and economic pressures caused by the dot-com bust. With residential land prices rising due to low interest rates and industrial land declining in...

The paper analyses the development of the East German housing market after the reunification of the former German Democratic Republic and the Federal Republic of Germany in 1990. We analyse the dynamics of the East German housing market within the framework of the wellknown stockflow model,...

This paper studies the determinants of house prices in eight transition economies of central and eastern Europe (CEE) and 19 OECD countries. The main question addressed is whether the conventional fundamental determinants of house prices, such as GDP per capita, real interest rates, housing...

After three decades of being relatively constant, the homeownership rate increased over the 1994-2005 period to attain record highs. The objective of this paper is to account for the observed boom in ownership by examining the role played by changes in demographic factors and innovations in the...

We apply additive mixed regression models (AMM) to estimate hedonic price equations. Non-linear effects of continuous covariates as well as a smooth time trend are modeled non-parametrically through P-splines. Unobserved district-specific heterogeneity is modeled in two ways: First, by location...

Extending the controversial findings from the relevant literature, the results from the quarterly transaction-based Nationwide indices from 1974 to 2009 provide further empirical evidence on the rejection of the weak-form version of efficiency in the U.K. housing market. In addition to...