The main purpose of this study is to investigate whether there is a long-run relationship between macroeconomic indicators and property price index in Dubai. This paper uses the monthly data for the eight year period from January 2003 to December 2010. In order to identify long term equilibrium...

In response to worsening housing affordability resulting from rapid housing price appreciation, some governments have introduced taxes or restrictions to reduce demand for local residential real estate by non-residents. We study the effectiveness of these efforts using the restrictions imposed...

This study presents the detailed method of the MNB's house price index and the results of the new price indices. The index family is considered to be a novelty among Hungarian housing market statistics in several regards. Firstly, the national index was derived from a database starting in 1990,...

The number 8, pronounced like 'prosperity,' is lucky in Chinese culture; 4, pronounced like 'death' is unlucky. Superstitious beliefs may influence asset prices if transaction participants have cultural preferences for specific numbers. We analyze the relationship between the presence of 8s and...

I estimate the impact of new housing supply on the local rent distribution, exploiting delays in housing completions caused by weather shocks during the construction phase. Increasing the flow of new supply by 1 percent lowers average rents by 0.2 percent, and increases disproportionately the...

We estimate a hedonic price function for the characteristics of housing units in Santiago, Chile, with the aim to capture unobserved utility-generating attributes for each unit. We used for this purpose two different semiparametric regression methods: a local linear kernel regression with a...

Residential choice does not only depend on properties of the dwelling, neighborhood amenities and affordability, but is also affected by the population composition within a neighbourhood. All these attributes are capitalised in the house price. Empirically, it is not easy to disentangle the...

In this paper, we develop a local housing stock heterogeneity measure. This measure may be used to monitor housing stock heterogeneity over time and in combination with other measures of policy interest. We illustrate the latter by looking at local housing stock heterogeneity, house price...

We examine the evolution of spatial house price dispersion during Germany’s recent housing boom. Using a dataset of sales listings, we find that house price dispersion has significantly increased, which is driven entirely by rising price variation across postal codes. We show that both price...