Housing markets in Central and Eastern Europe: is there a bubble in the Czech Republic?

Result code in IS VaVaI

<a href="https://www.isvavai.cz/riv?ss=detail&h=RIV%2F00216208%3A11640%2F09%3A00330764" target="_blank" >RIV/00216208:11640/09:00330764 - isvavai.cz</a>

Result on the web

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DOI - Digital Object Identifier

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Result language

angličtina

Original language name

Housing markets in Central and Eastern Europe: is there a bubble in the Czech Republic?

Original language description

Real estate prices more than doubled in many countries of Central and Eastern Europe from 2003 to 2008. In this paper, I provide the first assessment of whether housing prices in this region correspond to rents, i.e. to cash-flows related to an apartmentpurchase. State-of-the-art panel data stationarity and Granger causality techniques are employed to test the implications of the standard present-value model using regional data from the Czech Republic. Apartment prices both in this country overall andin its capital are only slightly overvalued. In addition, changes in prices are helpful in predicting changes in rents and vice versa.

Czech name

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Czech description

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Type

J_x - Unclassified - Peer-reviewed scientific article (Jimp, Jsc and Jost)

CEP classification

AH - Economics

OECD FORD branch

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Project

Result was created during the realization of more than one project. More information in the Projects tab.

Continuities

P - Projekt vyzkumu a vyvoje financovany z verejnych zdroju (s odkazem do CEP)<br>Z - Vyzkumny zamer (s odkazem do CEZ)

Publication year

2009

Confidentiality

S - Úplné a pravdivé údaje o projektu nepodléhají ochraně podle zvláštních právních předpisů

Name of the periodical

CERGE-EI Working Paper Series

ISSN

1211-3298

e-ISSN

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Volume of the periodical

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Issue of the periodical within the volume

390

Country of publishing house

CZ - CZECH REPUBLIC

Number of pages

37

Pages from-to

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UT code for WoS article

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EID of the result in the Scopus database

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