Over the last decade, German housing prices have increased unprecedentedly. Drawing on quality-adjusted housing price data at the district level, we document large and increasing regional disparities: growth rates were higher in 1) the largest seven cities, 2) districts located in the south, and...

The renewed momentum in the German housing market has led to concerns that Germany is vulnerable to asset price shocks. In this paper, we apply recently developed recursive unit root tests to detect the beginning and the end of potential speculative bubbles in Germany over the sample period...

The Fukushima Daiichi accident in Japan in March 2011 caused a fundamental change in Germany's energy policy which led to the immediate shut down of nearly half of its nuclear power plants. This paper uses data from Germany's largest internet platform for real estate to investigate the effect of...

The renewed momentum in the German housing market has led to concerns that Germany is vulnerable to asset price shocks. In this paper, we apply recently developed recursive unit root tests to detect the beginning and the end of potential speculative bubbles in Germany over the sample period...

This study provides evidence of the causal impact of immigration on German house prices, flat prices, and flat rents using an extensive dataset covering 382 administrative districts over the period 2004-2020. Employing a panel-data approach and a manually constructed shift-share instrument, we...

This paper employs panel data on 413 counties and cities over 2004-2009 to investigate the local supply of new single-family housing in Germany. Construction activity in local housing markets (measured by new housing permits related to the local housing stock) is modeled as a function of local...

This paper investigates the effect of a housing company's size on the outcome of energetic refurbishment. We argue that economies of scale, economies of scope and effects of learning have an impact on the production of energy-efficient housing services. To test our hypothesis, we use unique data...

From 2014 until present, housing prices in Germany have been rising faster than consumer prices in all quarters except one, raising concerns about an excessive over-heating of the housing market. To assess the vulnerability of the German housing market to a future realignment of prices or even a...

This paper analyses the behaviour of prices and supply on the German housing market taking into account the interaction between prices and quantities. A novel price index for residential property prices covering the whole country going back to 1993 is used in a macroeconomic model to estimate...

Running counter to the sharp rise in house prices and housing wealth observed since the mid-1990s in the vast majority of European countries, real house prices in Germany and Austria were going down in this period and did not start to rise until 2010 or 2007, respectively. This reflects national...