Does increased construction activity transmit into housing prices and rents? Evidence from the V4 countries and Austria

Frontiers in Sustainable Cities

Sustainable Cities

Božena Kadeřábková¹  Pavel Řežábek² 

[1] Department of Economics, Faculty of Economics, University of Economics in Prague, Prague, Czechia;Department of Social and Economic Policy, Faculty of Economics, University of Economics in Prague, Prague, Czechia;

关键词: economics;    housing;    real estate;    econometrics;    Central Europe;   

DOI  :  10.3389/frsc.2023.1267964

 received in 2023-07-27, accepted in 2023-08-15,  发布年份 2023

来源: Frontiers

【 摘 要 】

This study focuses on the housing market in Central European countries. We analyze the housing prices and their sensitiveness to selected variables, especially regarding construction activity in the V4 countries and Austria. By employing a specification of a recursive VAR model for each country, we show that the most responsive to changes in construction activity is housing market in Austria. Meanwhile housing prices in the V4 countries do not exhibit any strong association with construction activity, perhaps due to under-supply of housing in the countries. The paper provides discussion on the variables dependencies explanations.

【 授权许可】

Unknown   
Copyright © 2023 Kadeřábková and Řežábek.