scholarly journals Bangladesh

2020 ◽  
Vol 20 (195) ◽  
Author(s):  
Keyword(s):  
Price Index ◽  
Technical Assistance ◽  
Residential Property ◽  
Property Price

The purpose of the mission was to assist the Bangladesh Bank (BB) in progressing on the compilation of a residential property price index (RPPI). This will be the first technical assistance (TA) mission to Bangladesh on the RPPI to be conducted under the auspices of the Data for Decisions Fund (D4D). The aim of the mission is to assist the BB in improving data for RPPI compilation and to compile an experimental RPPI.

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 Determinant of Residential Property Price Index in Five Asian Emerging Market Countries: A Demand and Supply Approach

2021 ◽  
Vol 7 (08) ◽  
Author(s):  
Silma Fikria Balqis ◽  
Rudi Purwono
Keyword(s):  
Economic Growth ◽  
Interest Rate ◽  
Real Interest Rate ◽  
Price Index ◽  
Emerging Market ◽  
Residential Property ◽  
Demand And Supply ◽  
Independent Variables ◽  
Emerging Market Countries ◽  
Property Price

This study aims to analyze the factors influencing the Residential Property Price Index (RPPI) from the demand and supply sides in five Asian emerging market countries. The data used are semi-annual data from the first semester of 2009 until the second semester of 2019 because this study aims to denote the impact of RPPI toward the demand and supply indicators after the global crisis in 2008. The dependent variable of this study is the RPPI, while the independent variables include the number of workers, real interest rate, economic growth, and the Real Effective Exchange Rate (REER). The Fixed Effects Model (FEM) is thus the applied method to process the data. In the end, the results indicate that all independent variables are significant toward the RPPI. The number of workers, real interest rate, and REER negatively affect the RPPI, while economic growth positively affects the RPPI.

scholarly journals A COMPARATIVE STUDY ON THE INVESTMENT VALUE OF RESIDENTIAL PROPERTY AND STOCKS

2004 ◽  
Vol 8 (2) ◽  
pp. 63-72 ◽  
Author(s):  
Bing Sun ◽  
Hongyu Liu ◽  
Siqi Zheng
Keyword(s):  
Stock Returns ◽  
Stock Price ◽  
Price Index ◽  
Stock Exchange ◽  
Consumer Price Index ◽  
Residential Property ◽  
Investment Value ◽  
Stock Investment ◽  
Property Price ◽  
Weak Negative Correlation

As real estate, residential property comprises not only the value of utilization, but also the value of investment, which is somewhat different from that of securities such as stocks and bonds. In this paper, the investment value of newly‐built residences and stocks are compared and analyzed theoretically and empirically. Firstly, the paper summarizes the diversity of costs, risks, and benefits of these two investments. Secondly, by quoting the quarterly price/rent indices on the housing market and that at the stock exchange in Shanghai, the paper explores the variances of these two investments with respect to their risk‐return characteristics from 1993 to 2003. Thirdly, the paper discusses the correlations between residential property price/rent index, property/general stock price index, and Consumer Price Index (CPI). Finally, by utilizing the Capital Asset Pricing Model (CAPM), the systematic and the unsystematic risks of these investments are segregated and compared with each other, based on a series of assumptions. The result suggests, on a quarterly basis, that residential property investment produces a higher risk‐adjusted return than that of general stock and property stock investment. Because of a weak/negative correlation between residential property and stock returns, residential property is an ideal candidate to be included into the stock investment portfolio. Moreover, residential property and property stock can be used as effective hedges against inflation.

Housing prices in emerging countries during COVID-19: evidence from Turkey

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Mustafa Tevfik Kartal ◽  
Serpil Kılıç Depren ◽  
Özer Depren
Keyword(s):  
Monetary Policy ◽  
Price Index ◽  
Housing Prices ◽  
Emerging Countries ◽  
Residential Property ◽  
Content Type ◽  
Macroeconomic Variables ◽  
Global Variables ◽  
Property Price ◽  
Market Variables

Purpose By considering the rapid and continuous increase of housing prices in Turkey recently, this study aims to examine the determinants of the residential property price index (RPPI). In this context, a total of 12 explanatory (3 macroeconomic, 8 markets and 1 pandemic) variables are included in the analysis. Moreover, the residential property price index for new dwellings (NRPPI) and the residential property price index for old dwellings (ORPPI) are considered for robustness checks. Design/methodology/approach A quantile regression (QR) model is used to examine the main determinants of RPPI in Turkey. A monthly time series data set for the period between January 2010 and October 2020 is included. Moreover, NRPPI and ORPPI are examined for robustness. Findings Predictions for RPPI, NRPPI and ORPPI are carried out separately at the country (Turkey) level. The results show that market variables are more important than macroeconomic variables; the pandemic and rent have the highest effect on the indices; The effects of the explanatory variables on housing prices do not change much from low to high levels, the COVID-19 pandemic and weighted average cost of funding have a decreasing effect on indices while other variables have an increasing effect in low quantiles; the pandemic and monetary policy indicators have a negative and significant effect in low quantiles whereas they are not effective in high quantiles; the results for RPPI, NRPPI and ORPPI are consistent and robust. Research limitations/implications The results of the study emphasize the importance of the pandemic, rent, monetary policy indicators and interest rates on the indices, respectively. On the other hand, focusing solely on Turkey and excluding global variables is the main limitation of this study. Therefore, the authors encourage researchers to work on other emerging countries by considering global variables. Hence, future studies may extend this study. Practical implications The COVID-19 pandemic and market variables are determined as influential variables on housing prices in Turkey whereas macroeconomic variables are not effective, which does not mean that macroeconomic variables can be fully ignored. Hence, the main priority should be on focusing on market variables by also considering the development in macroeconomic variables. Social implications Emerging countries can make housing prices stable and affordable, which will increase homeownership. Hence, they can benefit from stability in housing markets. Originality/value The QR method is performed for the first time to examine housing prices in Turkey at the country level according to the existing literature. The results obtained from the QR analysis and policy implications can also be used by other emerging countries that would like to increase homeownership to provide better living conditions to citizens by making housing prices stable and keeping them under control. Hence, countries can control housing prices and stimulate housing affordability for citizens.

Methodical Revision of the Austrian Residential Property Price Index

2018 ◽  
Author(s):  
Wolfgang Feilmayr ◽  
Wolfgang Brunauer ◽  
Karin Wagner
Keyword(s):  
Price Index ◽  
Residential Property ◽  
Property Price

Estimation of Residential Property Price Index: Methodology and Data Sources

2020 ◽  
pp. 127-179
Author(s):  
W. Erwin Diewert ◽  
Kiyohiko G. Nishimura ◽  
Chihiro Shimizu ◽  
Tsutomu Watanabe
Keyword(s):  
Price Index ◽  
Data Sources ◽  
Residential Property ◽  
Property Price

scholarly journals Intrinsic bubbles and Granger causality in the Hong Kong residential property market

2019 ◽  
Vol 13 (1) ◽  
Author(s):  
Ting Lan
Keyword(s):  
Hong Kong ◽  
Granger Causality ◽  
Price Index ◽  
Residential Property ◽  
Property Market ◽  
Speculative Bubbles ◽  
Property Price ◽  
Show Evidence ◽  
Causality Tests ◽  
Housing Bubbles

Abstract This study uses the intrinsic bubbles detection method to identify housing bubbles in the Hong Kong residential property market. By using sample period data from 1993 to 2019, the empirical results show evidence of intrinsic bubbles. Based on the unit root and co-integration tests, I found that there are no rational speculative bubbles in the Hong Kong residential property market. Furthermore, by using the Granger causality tests of the corresponding asymmetric VECM specification, there is no causality from lagged changes in the rental price returns to changes in the property price returns. However, there is strong evidence to show that changes in the property price index returns can Granger cause changes in the rental price index returns.

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