The main aim of this paper is to identify the underlying reasons for the cyclical nature of the Hungarian housing market, in particular the business cycles, the construction, and market participants' expectations. Our research was conducted based on analysis of statistical data and of the...

Following the global financial crisis, many countries have introduced or tightened macroprudential policies. Using an agentbased model (ABM), this paper seeks to measure the impact on house price cycles of two distinct borrower-based macroprudential instruments, namely loan-to-income and...

Increasing supply is frequently proposed as a solution to rising housing costs. However, there is little evidence on how new market-rate construction-which is typically expensive-affects the market for lower quality housing in the short run. I begin by using address history data to identify...

This paper estimates the impact of the murder of film maker Theo vanGogh on November 2, 2004, on listed house prices in Amsterdam with aunique dataset. We use an hedonic-market approach to show that gen-eral attitudes towards Muslim minorities were negatively affected by themurder. Specifically,...

This paper analyzes the impact of the sale of rental housing in Amsterdam on the local housing market. This increases the supply of owner-occupied housing, but can also contribute to gentrification associated with the inflow of different household groups. Earlier literature focused on the former...

We analyse the determinants of prices of flats that are bought on the primary (new construction) and secondary markets (existing stock) in the 17 largest cities in Poland during the 2002-2015 period. We find that prices are driven by economic fundamentals, such as income growth and drop in the...

We estimate changes in the value and price of residential land for 379 German counties ("Landkreise") from 2014 to 2017 using a total of 42,685 observations. We use the two-step residual method that decomposes the value of a home into the value of the structure and land value. Despite the short...

In this paper, we explore the drivers of house prices in Norway, using a cross-country panel framework. Empirical results confirm that house prices are determined by numerous demand and supply factors, including income, demographics, macroeconomic conditions, stock of housing and institutional...

We review the main studies on house price synchronization and conduct an empirical analysis using OECD house price indices. We provide a discussion of the contributing factors of synchronization, with a focus on the demand and supply dimensions. Synchronization across both countries and cities...

In this paper we seek to understand the recent dynamics of the Brazilian housing market, which experienced a significant growth in recent years. In particular, we assess the effects of aggregate productivity and monetary policy shocks on housing market variables. Moreover, we also investigate...