Regional Analysis of Housing Price Bubbles and Their Determinants in the Czech Republic

Result code in IS VaVaI

<a href="https://www.isvavai.cz/riv?ss=detail&h=RIV%2F26138077%3A_____%2F11%3A%230000162" target="_blank" >RIV/26138077:_____/11:#0000162 - isvavai.cz</a>

Alternative codes found

RIV/61989100:27510/11:86081061 RIV/00216208:11230/11:10089117

Result on the web

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DOI - Digital Object Identifier

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Result language

angličtina

Original language name

Regional Analysis of Housing Price Bubbles and Their Determinants in the Czech Republic

Original language description

In this article we focus on factors affecting property prices in the Czech regions. We apply an empirical analysis to identify periods of property price overvaluation by three alternative approaches: using ratios related to house prices (price-to-incomeand price- -to-rent), using simple analysis of time trends in regional dimension (HP filter) and using panel regression. The analysis identified overvalued property prices in 2002/2003 and partly also in 2007/2008. Compared to simple HP filters in the panel regression the size of the housing price overvaluation in 2007/2008 was relatively low, as the rise in property prices in this period was largely determined by fundamentals. Looking across individual region, there is apparent tendency for higher degree of overvaluation in regions with higher property prices. The only exception from this rule is Prague, which, as a capital city, seems to have many ?specific? features.

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

<a href="/en/project/GAP403%2F11%2F2073" target="_blank" >GAP403/11/2073: Procyclicality of financial markets, asset price bubbles and macroprudential regulation</a><br>

Continuities

N - Vyzkumna aktivita podporovana z neverejnych zdroju

Publication year

2011

Confidentiality

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

Name of the periodical

Finance a úvěr

ISSN

0015-1920

e-ISSN

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Volume of the periodical

61

Issue of the periodical within the volume

1

Country of publishing house

CZ - CZECH REPUBLIC

Number of pages

25

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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