Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/251956
Year of Publication: 
2022
Series/Report no.: 
IWH Discussion Papers No. 13/2022
Publisher: 
Halle Institute for Economic Research (IWH), Halle (Saale)
Abstract: 
Over the last decade, German housing prices have increased unprecedentedly. Drawing on quality-adjusted housing price data at the district level, we document large and increasing regional disparities: Growth rates were higher in 1) the largest seven cities, 2) districts located in the south, and 3) districts with higher initial price levels. Indications of price bubbles are concentrated in the largest cities and in the purchasing market. Prices seem to be driven by the demand side: Increasing population density, higher shares of academically educated employees and increasing purchasing power explain our findings, while supply remained relatively constrained in the short term.
Subjects: 
Germany
housing market
regional disparities
rental prices
JEL: 
R23
R31
Persistent Identifier of the first edition: 
Document Type: 
Working Paper

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