Impacts of Crisis on the Real Estate Market Depending on the Development of the Region

Result code in IS VaVaI

<a href="https://www.isvavai.cz/riv?ss=detail&h=RIV%2F27590101%3A_____%2F23%3A00000226" target="_blank" >RIV/27590101:_____/23:00000226 - isvavai.cz</a>

Alternative codes found

RIV/68407700:21110/23:00366823

Result on the web

<a href="https://www.mdpi.com/2075-5309/13/4/896" target="_blank" >https://www.mdpi.com/2075-5309/13/4/896</a>

DOI - Digital Object Identifier

<a href="http://dx.doi.org/10.3390/buildings13040896" target="_blank" >10.3390/buildings13040896</a>

Result language

angličtina

Original language name

Impacts of Crisis on the Real Estate Market Depending on the Development of the Region

Original language description

The article compares the effects of crisis on the real estate market in two regions of the Czech Republic that differ from a macroeconomic point of view. The region of Prague represents the rich and developed region while the Karlovy Vary region struggles with many socio-economic and structural problems. An analysis was performed for the time period of 2018 to 2022. It analyzed the development of apartment prices in both regions, the availability of housing, the turnover of the real estate market in terms of the number of apartment sales, the development of liens on real estate, the number of apartment transfers from state property to private ownership, and the development of the number of real estate foreclosures. The basis for creating statistical outputs is the EVAL software, which was developed by one of the co-authors of this article. The EVAL software collects price offers of apartments offered for sale and rent throughout the Czech Republic and collects publicly available data from the cadastral office. The authors found that the real estate market experienced a significant turnaround in the volume of mortgage loans granted in 2022. This decline led to a significant drop in the total volume of real estate transactions. The findings suggest that potential buyers should wait for property prices to drop before buying, while rental property owners and investors can take advantage of the increased demand for properties.

Czech name

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Czech description

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Type

J_imp - Article in a specialist periodical, which is included in the Web of Science database

CEP classification

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OECD FORD branch

50202 - Applied Economics, Econometrics

Project

—

Continuities

N - Vyzkumna aktivita podporovana z neverejnych zdroju

Publication year

2023

Confidentiality

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

Name of the periodical

Buildings

ISSN

2075-5309

e-ISSN

—

Volume of the periodical

2023

Issue of the periodical within the volume

13

Country of publishing house

CH - SWITZERLAND

Number of pages

15

Pages from-to

1-15

UT code for WoS article

000977623500001

EID of the result in the Scopus database

2-s2.0-85156125736