scholarly journals Measuring the Effect of the Real Estate Bubble: A House Price Index for Bilbao

2014 ◽  
Author(s):  
M. Barcena ◽  
M. Palacios ◽  
F. Tusell
Keyword(s):  
Real Estate ◽  
Price Index ◽  
House Price ◽  
House Price Index ◽  
The Real ◽  
The Real Estate ◽  
Real Estate Bubble

scholarly journals Information Spillover Effects of Real Estate Markets: Evidence from Ten Metropolitan Cities in China

2021 ◽  
Vol 14 (6) ◽  
pp. 244
Author(s):  
Junjie Li ◽  
Li Zheng ◽  
Chunlu Liu ◽  
Zhifeng Shen
Keyword(s):  
Real Estate ◽  
Rapid Development ◽  
House Price ◽  
Principal Component ◽  
Spillover Effects ◽  
Real Estate Markets ◽  
The Real ◽  
The Real Estate ◽  
Information Interaction ◽  
Information Spillover

With the rapid development of information communication technology and the Internet, information spillover between cities in real estate markets is becoming more frequent. The influence of information spillover in real estate markets is becoming more and more prominent. However, the current research of information spillover between cities is still relatively insufficient. In view of this research gap, this paper builds a research framework on the information conduction effect in the real estate markets of 10 Chinese cities by using Baidu search data, text mining and principal component analysis and analyzes the information interaction and dynamic influence of the real estate markets in each city by using the vector autoregressive model empirically. The results show that the information interaction among the real estate markets in each city has a network pattern and there is a significant two-way information spillover effect in most cities. When the “information distance” becomes closer, the information interaction between the markets of the cities becomes closer and it is easier for cities to influence each other. The results help to explain the information spillover mechanism behind the house price spillover and to improve the ability to predict and analyze the information spillover process in real estate markets.

House price index (HPI) and Covid-19 pandemic shocks: evidence from Turkey and Kazakhstan

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Yeşim Aliefendioğlu ◽  
Harun Tanrivermis ◽  
Monsurat Ayojimi Salami
Keyword(s):  
Real Estate ◽  
Price Index ◽  
Housing Prices ◽  
House Price ◽  
Monthly Basis ◽  
Data Set ◽  
House Price Index ◽  
Content Type ◽  
Asymmetric Pricing ◽  
Long Run

Purpose This paper aims to investigate asymmetric pricing behaviour and impact of coronavirus (Covid-19) pandemic shocks on house price index (HPI) of Turkey and Kazakhstan. Design/methodology/approach Monthly HPIs and consumer price index (CPI) data ranges from 2010M1 to 2020M5 are used. This study uses a nonlinear autoregressive distributed lag model for empirical analysis. Findings The findings of this study reveal that the Covid-19 pandemic exerted both long-run and short-run asymmetric relationship on HPI of Turkey while in Kazakhstan, the long-run impact of Covid-19 pandemic shock is symmetrical long-run positive effect is similar in both HPI markets. Research limitations/implications The main limitations of this study are the study scope and data set due to data constraint. Several other macroeconomic variables may affect housing prices; however, variables used in this study satisfy the focus of this study in the presence of data constraint. HPI and CPI variables were made available on monthly basis for a considerably longer period which guaranteed the ranges of data set used in this study. Practical implications Despite the limitation, this study provides necessary information for authorities and prospective investors in HPI to make a sound investment decision. Originality/value This is the first study that rigorously and simultaneously examines the pricing behaviour of Turkey and Kazakhstan HPIs in relation to the Covid-19 pandemic shocks at the regional level. HPI of Kazakhstan is recognized in the global real estate transparency index but the study is rare. The study contributes to regional studies on housing price by bridging this gap in the real estate literature.

scholarly journals Diversified Price Dynamics in some Sub-Segments of the Housing Market

2015 ◽  
Vol 15 (1) ◽  
pp. 162-173
Author(s):  
Sebastian G. Kokot
Keyword(s):  
Real Estate ◽  
Price Index ◽  
Real Estate Market ◽  
Quality Of Data ◽  
The Real ◽  
The Real Estate ◽  
Transaction Prices ◽  
The Real Estate Market ◽  
Price Movements

Abstract The observation of price movements on the real estate market is an extremely difficult task as we have to face problems belonging to two spheres. The first of them is the specific nature of real estate as marketable objects and of the real estate market itself. The second one is the character and quality of data on real estate transaction prices. In this article the author, based on an empirical study, attempts to prove that even in a single segment of a local real estate market the prices in individual sub-segments can fluctuate with different intensity. The range of price movements can be so vast that it seems pointless to apply a single averaged price index for the whole segment, and usually that is what analysts do.

Design of Real Estate Price Index System Based on Hedonic Price Method

2014 ◽  
Vol 488-489 ◽  
pp. 1463-1466
Author(s):  
Yun Du ◽  
Hui Qin Sun ◽  
Su Ying Zhang ◽  
Qiang Tian
Keyword(s):  
Real Estate ◽  
Price Index ◽  
Real Estate Market ◽  
Hedonic Price ◽  
Hedonic Price Method ◽  
The Real ◽  
The Real Estate ◽  
Real Estate Price ◽  
Price Series ◽  
Research Level

Urban real estate price index (hereinafter referred to as UREPI) is a basic data of the real estate market, its accuracy is very important for enterprises, consumers and housing management department. In view of current research level here in China and popular models, the UREPI system is compiled based on the Hedonic price method because of its advantages such as calculation simple and sample easily etc. Compiled by Eviews the system has three main stages: the data standardization, the benchmark model establishment and the application of two periods chained update method to update price series. UREPI system is combined with the real deal, so it can be used to analysis the market accurately. The results completely meet the design requirements.

The real estate bubble in Ireland. Policy context and responses

2016 ◽  
Vol 9 (2) ◽  
pp. 204-218 ◽  
Author(s):  
Brendan Williams ◽  
Zorica Nedovic-Budic
Keyword(s):  
Real Estate ◽  
The Real ◽  
The Real Estate ◽  
Policy Context ◽  
Real Estate Bubble

scholarly journals La calle proyectada en el planeamiento urbanístico reciente. Murcia, 2001-2016

2021 ◽  
Vol 8 (2) ◽  
pp. 151-182
Author(s):  
Fernando Miguel García Martín ◽  
Marcos Ros Sempere ◽  
María José Silvente Martínez
Keyword(s):  
Real Estate ◽  
The Real ◽  
The Real Estate ◽  
Real Estate Bubble ◽  
Large Expansion ◽  
The Future ◽  
The City ◽  
Partial Plans

The 'prodigious decade' of Spanish urbanism caused a large expansion of urban lands, but also a much greater amount of planned but undeveloped land. The planning for this 'expectant city' is a challenge for the future of our cities. In this work, the streets proposed in these plans are analysed by evaluating their dimensional characteristics (surface and width) and their habitability (pedestrian-cyclist space and previsions of tree lines). The research is focused on the city of Murcia, paradigmatic case of the expansive urbanism typical of the real estate bubble. We have studied 2,096 streets from 92 partial plans approved during the period 2002-2013. The results show how the analysed variables change according to the use and density of the sectors and can be useful to evaluate the improvement of the habitability of these streets before their execution.

scholarly journals Prosperity or Real Estate Bubble? Exuberance Probability Index of Real Housing Prices in Chile

2021 ◽  
Vol 9 (3) ◽  
pp. 51
Author(s):  
Byron J. Idrovo-Aguirre ◽  
Francisco J. Lozano ◽  
Javier E. Contreras-Reyes
Keyword(s):  
Real Estate ◽  
Financial Market ◽  
Housing Prices ◽  
Housing Price ◽  
The Real ◽  
The Real Estate ◽  
Real Estate Price ◽  
Mortgage Interest ◽  
Real Estate Bubble ◽  
Probability Index

In this paper, we approached the concept of real estate bubble, analyzing the risk its bursting could generate for the Chilean financial market. Specifically, we analyzed the relationship between real housing prices, the economic activity index, and mortgage interest rates denominated in inflation-linked units from 1994 to 2020. The analysis was based on a second order Markov switching model with the predetermined variables mentioned later, whose parameters were obtained through the expectation–maximization algorithm. Then, we built a probability index as early warning indicator for potential imbalances in the real estate price that could put financial market stability at risk. The indicator is important to evaluate economic policy calibrations in time. A main finding was that the real housing price had a non-linear relationship with economic activity and the mortgage interest rate. Therefore, the evolution of the real estate price has been consistent with fundamental macroeconomic variables, even under a high growth regime, with increases above 12% per year. About 92% of housing price variability derived from changing macrofinancial conditions, suggesting a low margin of speculative behavior.

Sign in / Sign up

Export Citation Format

Share Document