The German government aims at a climate-neutral building stock by 2050 to reach the goals defined in the Climate Action Plan 2050. Increasing the energy efficiency of existing buildings is therefore a high priority. For this purpose, investments of private homeowners will play a major role since...

This paper provides a model for the well-known empirical phenomenon that houses of different quality experience different price developments. The typical pattern is that luxury houses appreciate more in boom periods and depreciate more during busts. The standard model of housing demand treats...

Real estate prices in cities, especially in historic central areas, are influenced by the quality and character of their neighbourhoods. Many cities are identifiable by iconic historic features such as their buildings or monuments. This paper examines the impact of historic amenities on...

Policy makers agree that vacant houses are undesirable. Moreover the existence of empty houses is used as an argument for allocating less land for new construction. So higher vacancy rates tend to trigger tighter restrictions on the supply of land. Such tighter restrictions lead to higher prices...

This study uses data over 9600 apartment sales in Stockholm, Sweden, to assess the impact of crime on property prices. Using two-stage analysis, the study first employs hedonic pricing modelling to estimate the impact of crime controlling for other factors (property and neighbourhood...

Supply subsidies to owners of rental housing construction are typically aimed at increasing the overall size of the housing stock or at guaranteeing affordable housing for low-income households. This paper studies whether and how much the tenants of the social housing units benefit from this...