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Erscheinungsjahr: 
2007
Schriftenreihe/Nr.: 
CESifo Working Paper No. 2152
Verlag: 
Center for Economic Studies and ifo Institute (CESifo), Munich
Zusammenfassung: 
This paper studies the determinants of house prices in eight transition economies of central and eastern Europe (CEE) and 19 OECD countries. The main question addressed is whether the conventional fundamental determinants of house prices, such as GDP per capita, real interest rates, housing credit and demographic factors, have driven observed house prices in CEE. We show that house prices in CEE are determined to a large extent by the underlying conventional fundamentals and some transition-specific factors, in particular institutional development of housing markets and housing finance and quality effects.
Schlagwörter: 
house prices
housing market
transition economies
central and eastern Europe
OECD countries
JEL: 
E20
E39
P25
R21
R31
Dokumentart: 
Working Paper
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