Determinants of house prices in central and eastern Europe
By: by Balázs Égert and Dubravko Mihaljek.
Contributors: Mihaljek, Dubravko.; Bank for International Settlements. Monetary and Economic Dept.
Series: BIS working papers -- no. 236
Publisher: Bank for International Settlements
Published: 2007
Place of publication: Basel, Switzerland
Language: eng
Format: Electronic resource
Description: 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.
Notes: Title from PDF file (viewed on Dec. 27, 2007).

"Monetary and Economic Department."

"September 2007."

Includes bibliographical references.

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