In this article, we study tradeoffs associated with homeownership and renting. We consider a model in which housing capital generates housing services, but also requires regular maintenance. A household wants to purchase a flow of housing services. Maintenance on the house providing this flow to...

According to housing investment models, house prices and replacement cost should have an equilibrating relationship. Previous empirical work - mainly based on aggregate-level data - has found only little evidence of such a relationship. By using a unique data set, covering transactions of...

The natural environment is one of the factors of development activities location. The quality and availability of natural values influences bid prices of flats. The availability of ecosystems of special qualities such as rarity and uniqueness is not a desirable feature for potential buyers. This...