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Factors Affecting Housing Prices: International Evidence

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  • Christos S. Savva

    (Department of Commerce, Finance and Shipping, Cyprus University of Technology)

Abstract

This paper investigates how changes in key macroeconomic variables influence the growth in house prices, using a panel data methodology for a sample of 24 countries. The main findings suggest that population; economic growth, stock returns and inflation are key factors for the increase in the housing price index. Moreover, as expected, construction cost is associated with the housing prices. In contrast, interest and unemployment rates adversely affect housing prices.

Suggested Citation

  • Christos S. Savva, 2018. "Factors Affecting Housing Prices: International Evidence," Cyprus Economic Policy Review, University of Cyprus, Economics Research Centre, vol. 12(2), pages 87-96, December.
    • Handle: RePEc:erc:cypepr:v:12:y:2018:i:2:p:87-96
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    References listed on IDEAS

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