Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/263415
Year of Publication: 
2022
Series/Report no.: 
IZA Discussion Papers No. 15199
Publisher: 
Institute of Labor Economics (IZA), Bonn
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: 
rental prices
housing market
Germany
regional disparities
JEL: 
R23
R31
Document Type: 
Working Paper

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