A Long Run House Price Index: The Herengracht Index, 1628-1973

1996 ◽  
Author(s):  
Piet M. A. Eichholtz
Keyword(s):  
Price Index ◽  
House Price ◽  
House Price Index ◽  
Long Run

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 VECM Analysis to House Price Index. Case of Tirana

2020 ◽  
Vol 3 (1) ◽  
pp. 19
Author(s):  
Egerta Marku ◽  
Llesh Lleshaj ◽  
Arjana Lleshaj
Keyword(s):  
Exchange Rate ◽  
Price Index ◽  
House Price ◽  
Capital City ◽  
Mortgage Loan ◽  
Data Series ◽  
Cost Index ◽  
House Price Index ◽  
Long Run ◽  
Long Run Equilibrium

This paper analyzes long-run equilibrium of “house price index” in Tirana (the capital city of Albania) achieved by the long-run performance of macroeconomic factors.We have used the techniques and analysis of linear multiple regression by VECM (vector error correction model), to identify endogenous factors, that effect the stability of “house price index”. The analyze is based on data series 2010-2018 (with 3-month frequency), with independent variables: mortgage loan, interest rate on long-term loans, construction cost index, EUR/ALL exchange rate, house price index with lag(1).We conclude that all these independent variable (expect EUR/ALL exchange rate) are statistically significant, in long-run equilibrium and in the elasticity assessment of “house price index”.

scholarly journals A STUDY ON THE RELATIONSHIP BETWEEN HOUSE PRICE INDEX AND ITS DETERMINANTS IN MALAYSIA

2020 ◽  
Vol 5 (2) ◽  
pp. 515
Author(s):  
Sharmila Binti Saudin ◽  
Nur Ashakirin Jehani ◽  
Nur Amaelya Mastani ◽  
Isnewati Ab Malek
Keyword(s):  
Gross Domestic Product ◽  
Price Index ◽  
Inflation Rate ◽  
House Price ◽  
Domestic Product ◽  
Causality Test ◽  
House Price Index ◽  
Long Run ◽  
Johansen Cointegration Test ◽  
The Relationship

In Malaysia, House Price is considered high at a certain part of the country causing the lower and middle groups unable to purchase a house. This research examines the long-run relationship and causality effect between House Price Index and determinants of House Price Index. The data was obtained from Valuation and Property Services Department (JPPH), Department of Statistics Malaysia, and Bank Negara. The data was collected over 10 years from 2010 to the first quarter of 2019. Johansen Cointegration Test and Granger Causality Test are applied in determining the long-run relationship and causality effect respectively. The general finding of this study is that the House Price Index shows an upward trend for the past nine years but slightly drop in the first quarter of 2019. This study has found that there is a long-run relationship between the House Price Index and the determinants which are Gross Domestic Product, Interest Rate, Inflation Rate, Population, and Unemployment Rate. Next, all independent variables do not granger cause House Price Index. At the same time, there is only one-way relationship found between House Price Index and Gross Domestic Product, and between House Price Index and Population where House Price Index is identified to granger cause both variables.

A New Dynamic House-Price Index

2019 ◽  
Author(s):  
Richard H. Stanton ◽  
Chris Strickland ◽  
Nancy E. Wallace
Keyword(s):  
Price Index ◽  
House Price ◽  
House Price Index

WHAT DRIVES HOUSE PRICE IN MALAYSIA? IN SEARCH OF AN ALTERNATIVE PRICING BENCHMARK FOR ISLAMIC HOME FINANCING

2017 ◽  
Vol 15 (4) ◽  
Author(s):  
Salina Hj Kassim ◽  
Nur Harena Redzuan ◽  
Nor Zalina Harun
Keyword(s):  
Interest Rate ◽  
Price Index ◽  
House Price ◽  
Holistic Approach ◽  
Housing Demand ◽  
House Price Index ◽  
Distributed Lag ◽  
Market Interest Rate ◽  
Auto Regressive ◽  
Conventional Banks

The current practise of the Islamic banks to rely on market interest rate as pricing benchmark for their home financing products has been a subject of intense debate among many parties. Muslim scholars have warned that it is highly discouraged as it could lead to a possible convergence between the practices of the Islamic and conventional banks. This paper intends to address the financing issues in the discussion of human settlement or housing policy by presenting the determinants for house price index as well as looking into the possibility of adopting the House Price Index (HPI) to replace the market interest rate as a pricing benchmark for the Islamic home financing. The study applies Auto-Regressive Distributed Lag (ARDL) method on a model comprising HPI as the dependent variable and a set of independent variables consisting of economic, housing demand and housing supply factors. The findings lead to the formulation of recommendations as a way forward for the Islamic banking industry in particular, and the economy in general. This will require a paradigm shift from basic financing products to a more holistic approach which integrates supply of housing factors, as well as urban planning and urban finance, with human rights and recognizes the need to place and shelter people.

A house price index based on the SPAR method

2009 ◽  
Vol 18 (3) ◽  
pp. 214-223 ◽  
Author(s):  
Paul de Vries ◽  
Jan de Haan ◽  
Erna van der Wal ◽  
Gust Mariën
Keyword(s):  
Price Index ◽  
House Price ◽  
House Price Index
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