Land prices and housing prices: the case of Spain

This research analyzes the Granger causality relation between land and housing prices in Spain. This relation is examined using Spanish provincial quarterly observations for the period 2005Q1–2010Q2. The results show that there is a bidirectional relationship between both markets. However, while the causality from the housing market to the land market is clear, the causality in the opposite direction, although statistically significant, is much weaker.     

Canadian housing prices: the road to wealth?

Homeownership has been one of the best long-term investments in Canada. Despite demographic, economic and social trends that would normally be associated with relatively stagnant trends in housing prices, investment in housing continues to provide owners in most areas of the country with attractive rates of return. However, national trends hide considerable variation. Not all regions, or all groups in society, have been able to capitalize on the wealth associated with increases in housing prices. Many real estate analysts are also concerned that the appreciation in prices over the past couple of decades is not a trend that will continue in the future. There is cautious optimism, but owning a home in the future is unlikely to be the valued investment it was for many in the past.     

Calculating prices and final accounts for housing construction

In countries with unstable conditions, negotiations regarding construction work takes place under conditions of great uncertainty with both sides, the purchaser and the investor, trying to minimize the difficulties. This paper gives an insight of how matters relating to costing are looked at by professionals when faced with such conditions.     

Shooting down the price: Evidence from Mafia homicides and housing prices

In this paper, we estimate the effect of the homicides by the Camorra, the Neapolitan Mafia, on housing prices in Naples. The study develops on a unique panel data set at the administrative district level for the period 2002–2018 of geo-localized homicides involving innocent victims (denoted as IVH), which are treated as exogenous shocks that negatively affect housing demand. We find that the occurrence of such homicides causes a decrease in housing prices in the range of 2.5–3.8 percentage points. This effect decreases with the distance from an IVH and over time. These results are robust to the utilization of different econometric specifications and to the considerations of possible confounding factors such as other types of Camorra homicides.     

住房刚性需求对北京市普通商品房价格的影响

结合供需规律,对北京市2001年²011年的普通商品房变化趋势进行了分析,并对2012年2011年的普通商品房变化趋势进行了分析,并对2012年²015年的房价进行了探讨,指出北京市普通商品房的价格将会在未来5年里保持温和上涨,但2015年作为刚性需求人群数量开始减少的拐点之年,应该采取相关政策防范房地产价格剧烈波动可能带来的各种风险。     

Land allocation for housing: A review of practice and possibilities in England

The typical conception of housing land release in England is of a non‐social, technical exercise which balance the various, often conflicting claims of rural conservation, of global housing needs and of non‐residential land uses. A rural housing needs policy, introduced in 1989, marks a potentially significant breach in the conventional wisdom that planning controls should only be concerned with the physical characteristics of buildings and of land. But the rural needs policy is unsuited to general application in its present form. If the intention is to use town planning to reduce the land cost of social housing, more consideration should be given to new forms of land taxation and public land ownership.     

The long- and short-run influences of housing prices on migration

A change in housing prices has a profound impact on households' housing equity and future moving decisions. While most previous studies focus on discussing the mobility lock-in effect due to housing price depreciation, revealing that there is a positive relationship between housing prices and migration, this study reexamines their relationship by using the panel cointegration method and city-level panel data for Taiwan during the 1994–2016 period. The empirical results reveal that migration and housing prices are cointegrated, and the influence of housing prices on migration is significantly positive in the long run. However, the influence of housing price changes on migration is not as significant as expected in the short run. To further examine their short-run relationships, we use quantile regression and the results show that the influence of housing price changes on migration is significantly negative below the 0.5 quantile, but it turns out to be significantly positive in the 0.9 quantile. The influence of housing price changes on migration is not significant between the 0.5 and 0.8 quantiles. We conclude that the influence of housing price changes on migration might be asymmetric in the short run.     

The cause and outcomes of the ripple effect: housing prices and transaction volume

In this study, the ripple effect in four regional housing markets in the USA (Northeast, Midwest, South, and West) was examined by analyzing housing prices, which is a method that has been primarily used in other studies, and the transfer of information in the transaction volume data of regional markets. First, the ripple index between regional housing markets was estimated using housing price and transaction volume. Findings revealed that the ripple effect in the transaction volume of regional housing markets was far more evident than that in housing prices and that the two types of ripple effect are negatively correlated. In other words, information between regional housing markets is either transferred through price or volume. In this study, monetary policy, overall economic performance, and new housing market were adopted as variables to analyze the cause and outcomes of the ripple effect. The results show that inflation stemming from an excess supply of money causes a ripple effect of rising regional housing prices. This money illusion leads contractors to believe that the housing market has increasing demand, motivating them to enter into new projects. Once these projects are completed, the increase in supply (new homes for sale) is reflected in the transaction volume of the regional housing market. In this instance, a stagnation in housing prices signifies that information is only transferred in the transaction volume. In short, the rise (housing boom) and fall (housing depression) of transaction volume affect interest rates in the mortgage market.     

The impact of immigration on housing prices in Australia

In recent years, Australia has experienced high rates of immigration. We investigate the effect that this has had on housing prices at the postcode level. The endogeneity of immigrant inflows is accounted for using the Bartik shift-share approach. Using data from the censuses in 2006, 2011, and 2016, we find that an immigrant inflow of 1% of a postcode's population raises housing prices by around 0.9% per year. As a result, Australian housing prices would have been around 1.1% lower per annum had there been no immigration. The size of this effect is broadly consistent with that found for other countries. The effects of immigration on housing prices were larger in the more recent part of the period examined and strongest in the states of New South Wales and Victoria, and the cities of Melbourne and Adelaide. Chinese and Indian immigrant groups are shown to have a strong positive influence on prices.     

Impacts of air pollution on urban housing prices in China

Journal of Housing and the Built Environment - In this study, we examine pollution effects on urban housing prices in China, using a fixed effects 2SLS model on a 13-year (2005–2017) panel...     

Analyzing housing prices in Shanghai with open data: Amenity,accessibility and urban structure

Skyrocketing housing prices in China's megacities have generated broad concerns. By integrating open data from Lianjia.com, Dianping.com, Mobike.com, and Baidu Map POI, we analyze spatial patterns of apartment prices and their association with local attributes in Shanghai. We find that Shanghai's residential market still has a monocentric structure because of the centralized distribution of public transport facilities and amenities. Hedonic models further confirm that structural attributes, accessibility, as well as public and private service amenities significantly shape the real estate market. These factors also are differentiated so as to form a pattern of concentric rings. In the inner-city and expanded inner-city areas, public service amenities such as parks, schools, hospitals, and banks, as well as private service amenities such as entertainment, shopping, and residential service facilities, boost housing prices. In the suburbs, better access to bike sharing, bus stops, and metro stations are the top preferences for apartment buyers. Our study also indicates that the Chinese government needs to make public and private services more accessible, not only spatially in urban peripheries and villages, but also institutionally to lower income families who cannot afford apartments in expensive neighborhoods.     

Land,urban form,and politics: A study on Dubai's housing landscape and rental affordability

There is a general perception that Dubai is built for the well-off. The construction of mega developments feeds a longstanding narrative that Dubai is solely a luxurious place. This study assesses this portrayal of Dubai and explores Dubai's residential landscape in terms of morphology and affordability. In particular, we ask: What are the different housing patterns prevailing in Dubai's built landscape? What are the major driving factors that influenced Dubai's housing transformation? How affordable is Dubai to its residents? Does Dubai's built landscape accommodate a large spectrum of income classes?The study argues that to fully assess the affordability of a city's housing, it's necessary to understand its spatial forms, morphogenesis, and the forces that shaped these patterns. Taking Dubai as a case, the study uses geospatial mapping to reveal nine distinct residential patterns in the city's history. The identified patterns are presented under six thematic periods stretching from 1900 to 2016 to highlight the contributing forces that shaped Dubai's housing landscape. Results expand the terms of discussions of affordable housing issues to address concerns related to authoritarian land use control and its impact on housing forms. Findings reveal that Dubai's land use policy creates spatial and housing affordability challenges. The state housing policy of providing large plots and exclusive suburbs for natives and the government's partnership with the private sector to brand Dubai through projects for the well-off have created a formidable housing challenge for the middle class. One major challenge is the lack of sufficient affordable housing units for the middle-class population; rental figures for this group are at crisis point. Only 23% of total housing units, which corresponds to a mere 7% of the total housing floor area in Dubai, are affordable for this group. To eradicate these ills of housing affordability, the planning profession in Dubai must derive practices from a number of internationally recognized planning and rental control policies.     

Land supply and housing development: A comparative analysis of Britain and the Netherlands 1970–95

This article examines the relationship between land supply and housing development in Britain and The Netherlands, two countries conventionally perceived to be very different in this respect. The article forwards a dual approach to analysis. The first is focused on fundamental differences. These are elaborated in terms of demographic factors, political process and physical land conditions. The second approach expands on a framework devised by Needham & Lie (1994), which is adapted here for the analysis of land policy over time. The article examines the complex nature of land policy in both countries. It thereby highlights the difficulties in providing a robust analytical framework capable of bridging comparison over time and of concluding on the extent of policy convergence.     

High dwelling vacancy rate and high prices of housing in Malta a mediterranean phenomenon

Current data from South European countries, especially Malta, indicates the existence of some contradictory forces in the housing market that defy the law of supply and demand and require explanation. In a ‘normal’ housing market, it can be expected that a high dwelling vacancy rate would help keep down the price of housing. In Malta, however, both the vacancy rate and housing prices have been rising in tandem for decades, unabated, even under the recent international market crunch. The government housing policy, which has always stimulated homeownership, is still encouraging new house building. Despite the high number (over 50,000) of vacant dwellings, the authorities issue more than 6,000 building permits annually to the private sector. In this paper we outline and explain the major factors contributing to this unlikely combination. Doing so, we use a welfare-state perspective. We identify and explain the underlying factors that are collectively responsible for such a paradox: the state; the family; the powerful Catholic Church; the underdeveloped Maltese financial market; and the paternalistic culture prevalent in Malta.     

The incomplete privatization of the Dutch housing market: Exploding house prices versus falling house-building output

This paper addresses the coordination problems in the liberalized housing market in the Netherlands during the 1990–2004 period. In particular, the mismatch between the explosion in house prices and the stagnation in house-building activities during the past six years is under investigation. It is argued that there is still a marked discrepancy between the language used in the policy discourse and the supply and demand situation on the Dutch housing market. One could argue that the Dutch government implemented a double-hearted, incomplete privatization. As a result of the mismatch between actual housing policy and market developments, output is stagnating and the housing shortage is growing sharply. The closing section presents some possible means to overcome these problems.     

Multiple housing problems: A view through the housing niche lens

This paper presents an alternative view on the patterning of housing problems – across populations and within people. The conceptualization of housing problems through a ‘housing niche’ lens allows the cumulative influence of multiple housing vulnerabilities to be better visualized and understood. Using a large, representative sample of the Australian population, the analysis describes and models patterns of multiple housing problems, the characteristics of the population at risk, and reflects on the implications for how policy might better understand and respond to multiple housing problems.