Under tenancy rent control, rents are regulated within a tenancy but not between tenancies. This paper investigates the effects of tenancy rent control on housing quality and maintenance. Since the discounted revenue received over a fixed-duration tenancy depends only on the starting rent,...

Dwelling prices are determined in the long run by the total costs of a development, where costs include regulatory costs, including costs of delay and uncertainty. We outline a conceptual framework for the development process and then develop a real options model of housing development that...

We test the impact of historic amenities on house prices and sorting of households within cities. Conservation area boundaries enable us to employ a semiparametric regression-discontinuity approach to measure the impact of historic amenities. The approach allows for household-specific...

On 15th November 2012 in Copenhagen, SUERF and Nykredit in association with Danmarks Nationalbank organised a conference on “Property prices and real estate financing in a turbulent world.” The papers included in this SUERF Study are based on contributions to the conference.

Equilibrium of the housing market depends on a complex set of interactions between: (1) individual location decisions; (2) individual housing investment; (3) collective decisions on urban growth. We embed these three elements in a model of a dynamic economy with two sources of friction:...

In this comment it is argued that Christophers´ misunderstands the nature of the post war housing model in Sweden. This was actually a market friendly model where rent and price regulations were seen as something temporary and that an increase in supply was the most important policy. It is...

Il nuovo istituto della perequazione "estesa" - cioè utilizzabile in qualunque luogo della città, qualechessia il luogo in cui ha trovato origine - presenta una intrinseca contraddizione: esso costituisce un passo in direzione della finanziarizzazione del settore immobiliare, e per questo...

We consider a novel set of data comprising every transaction in the Netherlands’ housing market between 1995 and 2011, and take a closer look at the idiosyncratic risk as it played out in those years. Shiller and Weiss (1999) proposed a home equity insurance policy that eliminates...

Desegregation is a key policy issue in many countries. I investigate a residential desegregation program in Singapore - the ethnic housing quotas. I show that choice restrictions imposed on apartment blocks above the quota limits (constrained) could have distortionary effects, causing price and...

To understand the formation and extent of the speculative tsunami that sweeps the coast of the Spanish economy since the end of 2007, it is necessary to analyze the profitability of property sales in the past decade. This article analyzes economic and financial profitability, and the multiplier...