We study the simultaneous dynamics of real house prices and rents in Paris during the period 1962-1994, using a recently published set of data.

This article outlines a transaction cost theory of ‘title insurance’ and analyses the role it plays in countries with recording and registration of land titles. Title insurance indemnifies real estate right holders for losses caused by pre-existing title defects that are unknown when the...

This article develops and tests a theory of the institutions that make property rights viable, ensuring their enforcement, mobilizing the collateral value of assets and promoting growth. In contrast to contractual rights, property rights are enforced in rem, being affected only with the consent...

This paper analyzes whether the Law of One Price (LOOP) holds in the housing market of five metropolitan areas of South Africa, namely Cape Town, Durban, Greater Johannesburg, Port Elizabeth/Uitenhage and Pretoria. We test the existence of LOOP using the efficient unit root tests proposed by...

The current economic crisis, deeply globalized, has its source in the major financial turmoil triggered in the U.S. at the end of 2007 and early 2008 because of the unrealistic bubble of the sub –prime loans based mostly on real estate transactions overestimated. That is why we consider...

The polish hotel market grows in a dynamic way, however investment in this market is subject to some risk. A responsible investor should thus perform a proper valuation of the investment object and also analyse the market potential. This article aims to motivate researchers and market...

The Sibiu 2007 European Cultural Capital was monitorized in order to highlight the follow up. Preliminary findings concerning the impact on tourism are prezented based on field research carryed out for the City Hall of Sibiu. In spite of a lower tourist circulation the encrease of daylly...

Housing renovation is the main alternative means of housing supply besides construction of new housing. Relatively little is known about the factors that affect decisions by households about whether to renovate and which sort of renovations to undertake. These questions are explored empirically....

A root concern of hedonic property value models is that some commonly-used estimators aggregate very diverse households into a single regression, which may explain the marked differences in implicit price estimates for the same housing attributes across studies. In this paper, we extend a model...

Few studies have analyzed the determinants of house value volatility at the level of individual houses. This paper uses two panels of the American Housing Survey covering 1974-2003 to test four hypotheses related to the determinants of house value volatility. The findings are that 1) house...