scholarly journals Analysing the local geography of the relationship between residential property prices and its determinants

2015 ◽  
Vol 28 (28) ◽  
pp. 21-35 ◽  
Author(s):  
Mohd Faris Dziauddin ◽  
Kamarul Ismail ◽  
Zainudin Othman
Keyword(s):  
Geographically Weighted Regression ◽  
Positive Impact ◽  
Weighted Regression ◽  
Residential Property ◽  
Relationship Selling ◽  
Property Prices ◽  
Property Price ◽  
Price Determinants ◽  
The Relationship ◽  
Attributes Data

AbstractThis paper analyses the local geography of the relationship between residential property prices and its determinants. A semiparametric geographically weighted regression (S-GWR) technique is employed to explore this relationship. Selling prices, structural and locational attributes data were collected from the database of the Department of Valuation and Services of Malaysia, selected maps and reports. The outcome of this paper shows a strong geographically varying relationship between residential property prices and its determinants in which the residential property price determinants have a positive impact on prices in some areas but negative or no impact on the others. The magnitude of the effect is also found to be geographically varied; the capitalisation in residential property prices is found greater in some areas but less or with no effect in some other parts of the areas. The use of S-GWR technique makes it possible to reveal such geographically varying relationships, thus leading to a better understanding of the relationship between residential property prices and its determinants.

Government failures and non-performing loans in European countries: a spatial approach

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Ferdinando Ofria ◽  
Massimo Mucciardi
Keyword(s):  
Public Debt ◽  
Geographically Weighted Regression ◽  
European Countries ◽  
Weighted Regression ◽  
Second Step ◽  
Ols Regression ◽  
Content Type ◽  
The Impact ◽  
The Relationship ◽  
The Eu

PurposeThe purpose is to analyze the spatially varying impacts of corruption and public debt as % of GDP (proxies of government failures) on non-performing loans (NPLs) in European countries; comparing two periods: one prior to the crisis of 2007 and another one after that. The authors first modeled the NPLs with an ordinary lest square (OLS) regression and found clear evidence of spatial instability in the distribution of the residuals. As a second step, the authors utilized the geographically weighted regression (GWR) to explore regional variations in the relationship between NPLs and the proxies of “Government failures”.Design/methodology/approachThe authors first modeled the NPL with an OLS regression and found clear evidence of spatial instability in the distribution of the residuals. As a second step, the author utilized the Geographically Weighted Regression (GWR) (Fotheringham et al., 2002) to explore regional variations in the relationship between NPLs and proxies of “Government failures” (corruption and public debt as % of GDP).FindingsThe results confirm that corruption and public debt as % of GDP, after the crisis of 2007, have affected significantly on NPLs of the EU countries and the following countries neighboring the EU: Switzerland, Iceland, Norway, Montenegro, and Turkey.Originality/valueIn a spatial prospective, unprecedented in the literature, this research focused on the impact of corruption and public debt as % of GDP on NPLs in European countries. The positive correlation, as expected, between public debt and NPLs highlights that fiscal problems in Eurozone countries have led to an important rise of problem loans. The impact of institutional corruption on NPLs reports that the higher the corruption, the higher is the level of NPLs.

scholarly journals Macroeconomic and Demographic Determinants of Residential Property Prices in Malaysia

2018 ◽  
Vol 21 (2) ◽  
pp. 71-96 ◽  
Author(s):  
Ivan D. Trofimov ◽  
Nazaria Md. Aris ◽  
Dickson C. D. Xuan
Keyword(s):  
Affordable Housing ◽  
Household Income ◽  
Urban Areas ◽  
Housing Demand ◽  
Residential Property ◽  
Property Prices ◽  
Consumer Prices ◽  
Property Price ◽  
Price Growth ◽  
Causality Tests

Abstract This paper studies the relationship between residential property prices and macroeconomic and demographic determinants in Malaysia. In the years following the Asian financial crisis, property prices in Malaysia rose substantially, resulting in an affordability crisis and ultimately policy responses to the problem. Using unit root, Johansen-Juselius cointegration, VECM-based Granger causality tests and variance decomposition, and considering quarterly data that covers 2000-2015 period, we established that residential property price growth is principally driven by strong demographic performance and population growth and is backed by the low interest rate environment and rising consumer prices. Household income and level of GDP do not appear to contribute to property price growth. Certain distortions and asymmetries in the Malaysian real estate markets are documented: oversupply in the higher price segment of the market coupled with the lack of affordable housing in the lower price segment; household income growth lagging behind GDP and property price growth, thereby dampening housing demand; growing rental markets in major urban areas as a result of the affordability crisis; and a quality mismatch between buyers’ preferences and housing supply.

Exploring the Relationship Between Sponsorship Characteristics and Sponsorship Asking Price

2012 ◽  
Vol 26 (4) ◽  
pp. 335-349 ◽  
Author(s):  
Taryn Wishart ◽  
Seung Pil Lee ◽  
T. Bettina Cornwell
Keyword(s):  
Media Coverage ◽  
Empirical Investigation ◽  
Positive Impact ◽  
Negotiation Process ◽  
Price Setting ◽  
Price Negotiation ◽  
Property Price ◽  
Influential Variable ◽  
The Relationship

Price setting in the sponsorship of sport, charity, arts and entertainment is usually negotiated, and private, so we know little about what determines price. With a sample of publicly available sponsorship proposals, the relationship between sponsorship characteristics and price set by the property is examined. Media coverage and attendance levels are hypothesized to have a positive impact on property price, as are a host of on-site communications. Overall the most influential variable explaining the property’s asking price is media coverage. In contrast, on-site communications are not important in price setting. Interestingly, access to property offerings such as celebrities and venues has a significant positive impact on property price. While the empirical investigation is limited to the relationship between communication characteristics and asking price, the price negotiation process and property-based characteristics that lead to the final price are also discussed.

scholarly journals THE INFLUENCE OF GDP, INTEREST RATE, WAGE, INFLATION AND EXCHANGE RATE ON RESIDENTIAL PROPERTY PRICE IN INDONESIA

2019 ◽  
Vol 17 (9) ◽  
Author(s):  
Badrud Duja ◽  
Heri Supriyanto
Keyword(s):  
Economic Growth ◽  
Exchange Rate ◽  
Interest Rate ◽  
Interest Rates ◽  
Residential Property ◽  
Property Prices ◽  
The Us ◽  
Property Price ◽  
Us Dollar ◽  
The Government

Over the past years, Indonesia’s economic growth has been recorded among the top developing countries. The economic growth is believed to contribute to the increase on residential property prices. The main objective of this study is to analyse the influence of determinants of residential property prices in Indonesia by examining the dynamic relationships of residential property prices reflected through the Residential Property Price Index (RPPI) with Gross Domestic Product (GDP), investment interest rates, wages, inflation and the exchange rate against the US dollar using secondary data over a period of thirteen-years between 2002Q1 and 2014Q4. By applying the Engle-Granger co-integration testand the error correction model, this research aims to see the relationship between the variables both in the short- and long-term. The results of the study indicated that macroeconomic factors that were significantly related to Indonesian residential property prices were GDP, wages, inflation, and exchange rates against the US dollar, while the investment interest rate was not included in these factors. Furthermore, based on the results of the regression analysis on research data, government policy in setting minimum wage standards has the greatest impact on residential property prices in the property sector in Indonesia. Thus, the results of this research are expected to provide the government with better viewpoints that will assist them in enacting better policies in the residential property sector.

scholarly journals Pengaruh KPR terhadap Keterjangkauan Harga Properti Residensial

2019 ◽  
Vol 3 (3) ◽  
pp. 182-197
Author(s):  
Pihri Buhaerah
Keyword(s):  
Public Housing ◽  
Residential Property ◽  
Research Approach ◽  
Ardl Model ◽  
Distributed Lag ◽  
Autoregressive Distributed Lag ◽  
Property Prices ◽  
Property Price ◽  
Price Growth ◽  
Bank For International Settlements

AbstractThis paper describes and examines the linkage of house mortgages on residential property price growth in Indonesia by using qualitative and quantitative research methods. The qualitative research approach is used to elaborate descriptively the role of house mortgages on residential property prices. To strengthen it, this study then employs one of time series regression analyses namely autoregressive distributed lag (ARDL) model for the period of 2002Q1-2017Q4. To achieve the objective of this study, data was collected from secondary sources such as Bank for International Settlements (BIS), Bank Indonesia (BI), and Central Statistics Agency (BPS). The qualitative approach shows that under lack of land banking and public housing zones, the expansion of house mortgages affect positively residential property prices both for private and public housing.  The argument has been confirmed from regression analysis by using the ARDL model. The estimation results using the ARDL model show that there is a positive and significant relationship between house mortgage on residential property price growth both in the long-run and in the short-run.  Keywords: house mortgage, property residential prices, land, ARDL modelJEL Classification: C22, E51, G21  AbstrakStudi ini membahas secara deskriptif dan empiris peran pembiayaan pemilikan rumah terhadap harga properti residensial di Indonesia dengan menggunakan metode penelitian kualitatif dan kuantitatif. Pendekatan kualitatif digunakan untuk menggambarkan secara deskriptif peran pembiyaan pemilikan rumah terhadap harga properti residensial. Selanjutnya, untuk memperkuat argument tersebut, studi ini kemudian melibatkan salah satu teknik analisis regresi data runtun waktu yaitu model autoregressive distributed lag (ARDL) untuk periode 2002Q1-2017Q4. Untuk mencapai tujuan penelitian, data dikumpulkan dari beragam sumber data sekunder seperti Bank for International Settlements (BIS), Bank Indonesia (BI), dan Badan Pusat Statistik (BPS). Hasilnya, dengan menggunakan pendekatan kualitatif menunjukkan bahwa tanpa pelembagaan bank tanah dan zonasi khusus perumahan rakyat, skema pembiayaan kepemilikan rumah hanya akan melambungkan harga properti residensial. Argumen ini juga terkonfirmasi dari analisis regresi dengan menggunakan model ARDL. Hasil estimasi dengan menggunakan model ARDL menunjukkan bahwa terdapat hubungan jangka panjang antara kredit kepemilikan rumah dengan harga property residensial baik untuk jangka pendek maupun jangka panjang.  Kata Kunci: Kredit pemilikan rumah, harga properti residensial, tanah, model ARDLJEL Classification: C22, E51, G21 

The Macro Economic Factors affecting Property Prices in Malta

2018 ◽  
Vol 2 (1) ◽  
pp. 4-27
Author(s):  
Luke Vella
Keyword(s):  
Unemployment Rate ◽  
House Prices ◽  
Standard Of Living ◽  
Ageing Population ◽  
Upward Trend ◽  
Factors Affecting ◽  
Property Prices ◽  
Property Price ◽  
Growing Economy ◽  
The Relationship

Property prices have been on top of European governments’ agenda for decades as their contribution towards the whole economic system is imperative. Property prices in Malta have been on an upward trend and, lately, the upward trend has been larger than in previous years. Even though this is a sign of a strong and growing economy, it can have implications on residents due to affordability issues affecting their standard of living. This study seeks to determine the factors which have an influence on property price in Malta whilst also analysing the strength of the relationship each factor holds on house prices. This study examines the Gross Domestic Product, unemployment rate, population, inflation, the number of home loans within the Maltese economy, ageing population, the number of tourists, minimum wage, and development permits. Out of these nine variables tested, eight proved to be statistically significant. The variables which had the largest effect on house prices was the unemployment rate whilst the variable with the least effect on house prices was inflation.

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