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Paper eres2016_227:
Do the Determinants of House Prices Change over Time? Evidence from 200 Years of Transactions Data

id eres2016_227
authors Droes, Martijn; Alex van de Minne
year 2016
title Do the Determinants of House Prices Change over Time? Evidence from 200 Years of Transactions Data
source 23rd Annual European Real Estate Society Conference in Regensburg, Germany
summary This paper uses almost 200 years of historical data on house prices and its determinants from Amsterdam, the Netherlands. We find that before 1900 population growth, construction costs and new housing supply are the most important determinants of house price dynamics. After 1900 income starts to play a role and, with the development of the mortgage market, interest rates as well. Directly after World War II population and new housing supply are the key determinants of house prices, which likely reflects the baby boom generation and post-war reconstruction plans. Our results imply that the determinants of house prices are not fixed and reflect the economic state of affairs in each different era.
series ERES:conference
type paper session
discussion No discussions. Post discussion ...
ratings
session Residential Real Estate
last changed 2017/11/18 16:16
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