Eres : Digital Library : Works

Paper eres2001_131:
Differences in the Demand for Housing by Owners and Investors

id eres2001_131
authors Choi, Hak
year 2001
title Differences in the Demand for Housing by Owners and Investors
source 8th European Real Estate Society Conference (26-29 June 2001) Alicante, Spain
summary This paper will distinguish between owner demand for housing, and that of investors. Such differentiation in demand should be viewed as an integral part of the decision to buy. A durable goods approach to homeowner demand for housing is developed, and then the traditional investment consideration is modified. An estimation using the durable goods approach reveals that demand for housing by owners is positively affected by rent, real income, and general price level; and negatively affected by the housing price and interest rate. The modified investment equation produces better estimation with correct parameters. Property price is positively related to owner demand for housing units, and negatively related to tenant demand.
series ERES:conference
content file.pdf (50,171 bytes)
discussion No discussions. Post discussion ...
session Tenure Choice and policy II
last changed 2009/07/10 18:07
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