scholarly journals Information Opportunities of Administrative Data on Residential Real Estate Transactions for Calculating the House Prices in Russia’s Housing Market

2021 ◽  
Vol 18 (6) ◽  
pp. 60-72
Author(s):  
A. B. Dukhon ◽  
O. I. Obraztsova ◽  
N. D. Epshtein
Keyword(s):  
Real Estate ◽  
Housing Market ◽  
House Prices ◽  
Information Source ◽  
Residential Property ◽  
National Accounts ◽  
System Of National Accounts ◽  
Registration Data ◽  
State Register ◽  
Property Price

Purpose of the study. Development, justification and testing of a methodology for improving statistical monitoring of average prices in the Russian housing market, based on the use of registration information of the Unified State Register of Real Estate (USRN) on transactions for the purchase of residential real estate, in accordance with international statistical standards for Residential Property Price statistics.Materials and methods. The theoretical basis of the study was the United Nations system of national accounts (version of 2008), including the European system of accounts as amended in 2010. The research methodological base was made up of official statistical sources: metadata and international statistics guidelines in the field of national accounting, Handbook on Residential Property Price Indices and related housing indicators, as well as methodological provisions and an album of Rosstat forms, and methodological materials of the administrative statistics of the Federal Service for State Registration, Cadastre and Cartography of the Russian Federation (Rosreestr). The depersonalized registration data on households’ market transactions of the Unified State Register of Property Rights and Transactions maintaining by Rosreestr were used as an information database of the research.Results. The main result of the study is the design and substantiation of a system of indicators for the construction of an integrated information source for Residential Property Price statistics, on the base on interdepartmental information interaction.Conclusion. The proposed system of indicators will provide a highquality database that could be used in order to construct constant quality House Prices for various types of homogeneous residential property in the housing market, complying with the concepts of international statistical standards.

scholarly journals Are House Prices Driven by Capital Flows? Evidence from Singapore

2016 ◽  
Vol 07 (01) ◽  
pp. 1650006 ◽  
Author(s):  
Hwee Kwan Chow ◽  
Taojun Xie
Keyword(s):  
Capital Flows ◽  
Price Index ◽  
House Prices ◽  
House Price ◽  
Capital Inflows ◽  
Residential Property ◽  
Foreign Direct Investments ◽  
Short Term ◽  
Property Price ◽  
The Impact

This paper investigates whether real house price appreciations can be attributed to the surge in real capital inflows into Singapore. We proxy capital flows by using the amount of Foreign Direct Investments (FDI) to real estate capturing the foreign purchases of property in Singapore which we deflate by the private residential property price index. Notwithstanding the absence of a cointegrating relationship, our results support the hypothesis that lagged short term fluctuations in capital inflows are positively associated with the growth rates of house prices over the last decade. We also provide evidence that macroprudential measures implemented by Singapore reduced the impact of capital inflows on house price appreciation by more than half, suggesting the effectiveness of such market cooling measures in weakening the credit growth channel.

scholarly journals Financialization, real estate and COVID-19 in the UK

2020 ◽  
Author(s):  
Grace Blakeley
Keyword(s):  
Monetary Policy ◽  
Real Estate ◽  
Financial Markets ◽  
Housing Market ◽  
Negative Impact ◽  
House Prices ◽  
Wealth Inequality ◽  
The Uk

Abstract In the UK, financialization has transformed many areas of the economy, including the housing market. The deregulation of financial markets that took place from the 1980s onwards, combined with the privatization of social housing, has transformed UK real estate from an ordinary good, insulated to some extent from consumer and financial markets, into a valuable financial asset. The financialization of real estate has had a largely negative impact on the UK’s housing market, the wider economy and individual communities; wealth inequality, financial instability, gentrification and homelessness have all increased as the role of the financial sector in UK property has increased. The financial crisis only accelerated many of these trends as distressed real estate was bought up by investors in its wake, and as loose monetary policy pushed up house prices in the period after the crisis. The COVID-19 pandemic is only likely to exacerbate these issues; the UK is sleepwalking into a potential evictions crisis, and ongoing loose monetary policy is likely to prevent a significant and necessary correction in house prices over the long term.

scholarly journals ASSESSMENT OF BUBBLES IN THE MALAYSIAN HOUSING MARKET

2017 ◽  
Vol 15 (3) ◽  
Author(s):  
Rohayu Ab. Majid ◽  
Rosli Said ◽  
Chong J.T.S
Keyword(s):  
Business Cycles ◽  
Housing Market ◽  
House Prices ◽  
Housing Affordability ◽  
Residential Property ◽  
Ratio Analysis ◽  
Housing Bubble ◽  
Property Market ◽  
Housing Bubbles ◽  
Year 2000

Property cycle and housing bubble have been a noteworthy subject of discussion since decades ago. The economic and business cycles have been closely associated with the property cycle as the economic and business factors have certain definite effects on the property market. At some point of the property cycle, the housing bubble will occur. The housing bubble is a trend of unreasonable increase of house prices where the increase is supported by factors that are not economics related. It causes the house prices to be intolerable in terms of housing affordability and the bursting of this housing bubble would lead to the crash of the property market. This paper focuses on using the economic indicators to identify the phases of the residential property cycle in Malaysia from the year 2000 to 2012. Having done so, housing bubbles were analysed using ratio analysis for the year 2012. The results show that housing bubble is yet to become a significant threat to our national property market as it only affects certain areas and housing types.

scholarly journals Determining the Impact of Aircraft Noise towards Residential Property Price

2019 ◽  
Vol 266 ◽  
pp. 02005
Author(s):  
Azlina Md. Yassin ◽  
Mohd Lizam Mohd Diah ◽  
Edie Ezwan Mohd Safian ◽  
Mohd Yamani Yahya ◽  
Sulzakimin Mohammad ◽  
...  
Keyword(s):  
House Prices ◽  
Noise Pollution ◽  
Aircraft Noise ◽  
Lower Price ◽  
Residential Property ◽  
Road Traffic Noise ◽  
International Airport ◽  
Property Price ◽  
The Impact

The objective of this paper is to examine the effect of aircraft noise on residential property price within the case study area, and the main focus of this research was the distance of selected residential housed from Kuching International Airport (KIA). Aircraft noise is a source of noise pollution and act as environment factor that affect the house prices. Environmental disamenities from water and noise pollution will caused the houses to sell at lower price, accounted 20.8% less than houses located in area without noise interference. Apparently, the noise produced by the aircraft has even larger negative impact on house prices as compared to road traffic noise and railway noise. This study adopted quantitative approach in answering the objective of the paper. The findings were based on the secondary data which including 210 property transaction data within year 2015. The range of areas for this study was limited to selected residential terrace houses that located within 10.0 km from Kuching International Airport (KIA). The findings from Multiple Regression Analysis (MRA) shows that the property prices located nearer to the airport (<2.5 km from KIA) in selected case study areas have been sold with lower price. Moreover, the prices of the properties located distance from KIA were not negatively impacted by the aircraft noise due to the other pulling factor that has larger impact to the property. Indeed, the location of the property, public amenities, transportation system, neighborhood factor and facilities also has close relationship to the property price.

scholarly journals ANALYSIS OF DIFFERENT REGRESSION MODELS FOR REAL ESTATE PRICE PREDICTION

2021 ◽  
Vol 5 (11) ◽  
Author(s):  
Pranav Kangane ◽  
Aadesh Mallya ◽  
Aayush Gawane ◽  
Vivek Joshi ◽  
Shivam Gulve
Keyword(s):  
Real Estate ◽  
Housing Market ◽  
Regression Models ◽  
Mean Squared Error ◽  
House Prices ◽  
Absolute Error ◽  
Performance Comparison ◽  
Squared Error ◽  
Estate Property ◽  
Market Strategies

The housing market is a standout amongst the most engaged with respect to estimating the price and continues to vary. Individuals are cautious when they are endeavoring to purchase another house with their financial plan and market strategies. Consequently, making the housing market one of the incredible fields to apply the ideas of machine learning on how to enhance and anticipate the house prices with precision. The objective of the paper is the prediction of the market value of a real estate property and present a performance comparison between various regression models applied. Nine algorithms were selected to predict the dependent variable in our dataset and then their performance was compared using R2 score, mean absolute error, mean squared error and root mean squared error. Moreover, this study attempts to analyze the correlation between variables to determine the most important factors that are bound to affect the prices of house.

scholarly journals International Real Estate Review

2020 ◽  
Vol 23 (2) ◽  
pp. 267-308
Author(s):  
Are Oust ◽  
◽  
Ole Martin Eidjord ◽  
Keyword(s):  
Real Estate ◽  
Housing Market ◽  
House Prices ◽  
House Price ◽  
Search Term ◽  
Housing Bubble ◽  
Search Terms ◽  
Search Volume ◽  
Google Search ◽  
The U.S

The aim of this paper is to test whether Google search volume indices can be used to predict house prices and identify bubbles in the housing market. We analyze the data that pertain to the 2006?2007 U.S. housing bubble, taking advantage of the heterogeneous house price development in both bubble and non-bubble states in the U.S. Using 204 housing-related keywords, we test both single search terms and indices that comprise search term sets to see whether they can be used as housing bubble indicators. We find that several keywords perform very well as bubble indicators. Among all of the keywords and indices tested, the Google search volume for ¡§Housing Bubble¡¨ and ¡§Real Estate Agent¡¨, and a constructed index that contains the twelve best-performing search terms score the highest at both detecting bubbles and not erroneously detecting non-bubble states as bubbles. A new housing bubble indicator may help households, investors, and policy makers receive advanced warning about future housing bubbles. Moreover, we show that the Google search outperforms the well-established consumer confidence index in the U.S. as a leading indicator of the housing market.

Does Tourism Contribute to Real Estate Boom? A DSGE Modeling in Small Open Economy

2020 ◽  
Vol 45 (1) ◽  
pp. 257-279
Author(s):  
Hongru Zhang ◽  
Yang Yang
Keyword(s):  
Real Estate ◽  
Housing Market ◽  
Open Economy ◽  
Driving Forces ◽  
House Prices ◽  
Small Open Economy ◽  
Policy Implications ◽  
Tourism Demand ◽  
Inbound Tourism ◽  
Dynamic Stochastic

This article aims to investigate the relationship between inbound tourism and housing market along with the recent boom in Icelandic real estate sector, in which both house and rental prices have been rising dramatically. To this end, we construct a small open economy dynamic stochastic general equilibrium model enclosing a tourism sector and a housing market with owner-occupied and rental sections. The simulation results unveil a transmission channel that indicates the higher inbound tourism demand raises both house prices and rental prices. Variance decomposition and historical decomposition show that both inbound tourism demand shock and manufacturing technology shock are the key driving forces of the fluctuations of Icelandic house prices, consumption, and investment, whereas housing preference shock plays the most important role in determining the volatility of rental prices. The policy implications indicate that any shocks to tourism could easily spillover to housing market dynamics and aggregate fluctuations.

scholarly journals The Analysis of Differences in Residential Property Price Indices

2014 ◽  
Vol 22 (3) ◽  
pp. 14-27 ◽  
Author(s):  
Sebastian Kokot
Keyword(s):  
Real Estate ◽  
Real Estate Market ◽  
Residential Property ◽  
Price Indices ◽  
Property Market ◽  
Real Property ◽  
Major Purpose ◽  
The Real Estate ◽  
Floor Area ◽  
Property Price

Abstract Residential property price indices can serve as a useful tool in the practice of real property market analysts, investment advisers, property developers, certified property appraisers, estate agents and managers. They can also be applied in property price valorization in specific legal positions. The Polish Act on Real Estate Management puts an obligation on the President of the Central Statistical Office to announce real property price indices, but the CSO fails to fulfill this obligation. The author’s rationale for this article is to contribute to works on rules of how to build property price indices. Presented within are the results of research on determining the price indices of such types of residential property as: a part of a building constituting a separate property and strata titles in housing cooperatives. The flats were divided into categories by floor area and by their location in 16 voivodeship capitals. The major purpose of the study is to prove that the prices of flats of different floor area change at different rates. Consequently, it seems worth considering whether a more detailed segmentation of the real estate market would be worthwhile for the sake of more accurate real property price indicators.

scholarly journals A DYNAMIC RELATIONSHIP BETWEEN CONSUMER CONFIDENCE AND RESIDENTIAL PROPERTY PRICE: EMPIRICAL EVIDENCE FOR MALAYSIA

2021 ◽  
Vol 11 (1) ◽  
pp. 16-34
Author(s):  
Nur Hafizah Ismail ◽  
Sabri Nayan
Keyword(s):  
Real Estate ◽  
Real Estate Market ◽  
Consumer Confidence ◽  
Residential Property ◽  
The Real ◽  
The Real Estate ◽  
Property Prices ◽  
The Real Estate Market ◽  
Property Price ◽  
Housing Industry

In recent years, the real estate market has become a major interest for economists and researchers. In general, property prices are influenced by the supply and demand of the real estate market. In addition to the individual's positive expectation of the real estate market would raise the demand for housing and hence, house price indexes would increase. This study provides new knowledge on how consumer confidence in the housing industry affects residential property prices in Malaysia. Previous studies on the effect of consumer perception towards residential property in Malaysia are scarce. Therefore, the objective of this study is to determine how consumer confidence affect residential property price in Malaysia. Our study differs by focusing on the effect of consumer confidence on the housing industry and macroeconomic drivers toward residential property prices in Malaysia over the period 2004:Q1 to 2018:Q4. By using the autoregressive distributed lag (ARDL) test, the empirical results have shown the presence of long-run adjustment and indicate that consumer confidence towards the housing industry and many macroeconomic variables significantly affect residential property prices. From this finding, we have suggested that government and policymakers should be able to understand consumer confidence in the housing industry to increase consumer satisfaction and to improve consumer sentiment towards the residential property market in Malaysia.

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