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Paper eres2010_257:
AN INTERNATIONAL COMPARATIVE STUDY ON HOUSING PRICE AND PROPERTY TAX LIABILTIES

id eres2010_257
authors Wu, Sun-Tien; Yueh, Chun-Hao
year 2010
title AN INTERNATIONAL COMPARATIVE STUDY ON HOUSING PRICE AND PROPERTY TAX LIABILTIES
source 17th Annual European Real Estate Society Conference in Milan, Italy
summary The study tries to explore the factors affecting the relative house price movements in the last 20 years for Taiwan as well as other countries such as the U. S., U. K, and Japan with the dynamic factor model put forward by Otrok and Terrones (2005) with a particular aim to shed light on the relationship between the level of house prices and the tax burdens that are lay on their owners. Our preliminary results show that changes in interest rate as well as the international common trend of all the housing markets of the countries studied are the most important factors behind the scene of house price movements for the countries studied and property tax has negative effect on house prices for the U.S. and U.K only and its influence is barely statistically significant at 10% level. These results reflect the facts that the property tax plays a very limited role in the home purchasing procedure. Incidentally, we hope the adequacy of our data set may get improved in the coming months.
keywords house price, property tax, comovement, Kalmon filter
series ERES:conference
email wust@cute.edu.tw
more http://www.eres2010.org/index.asp?page=papers_download
content file.ppt (367,616 bytes)
discussion No discussions. Post discussion ...
ratings
session Tax & legal issues in Real Estate
last changed 2010/08/04 20:47
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