IDEAS home Printed from https://ideas.repec.org/h/cnb/ocpubc/fsr1011-3.html
   My bibliography  Save this book chapter

An Analysis of Progress with the Sale of Residential Developments

In: CNB Financial Stability Report 2010/2011

Author

Listed:
  • Michal Hlavacek
  • Zita Prostejovska
  • Lubos Komarek

Abstract

This article analyses residential developments using a database of individual projects for the years 2006–2010. Changes in the supply structure towards smaller apartments in recent years were identified in this unique database. These changes were probably a reaction to higher demand for smaller apartments, which also recorded the strongest fall in prices. The main part of the article contains estimates of so-called “sales progress S-curves”. These estimates reveal quite a sharp deterioration in progress with the sale of apartments in 2009 and 2010. A model of the determinants of deviations of progress with the sale of individual projects from the estimated S-curve suggests the existence of unobserved factors that probably have an opposite relationship to apartment prices than expected. The other significant variables were apartment size, number of garage spaces per apartment and balcony area per apartment.

Suggested Citation

  • Michal Hlavacek & Zita Prostejovska & Lubos Komarek, 2011. "An Analysis of Progress with the Sale of Residential Developments," Occasional Publications - Chapters in Edited Volumes, in: CNB Financial Stability Report 2010/2011, chapter 0, pages 123-132, Czech National Bank.
    • Handle: RePEc:cnb:ocpubc:fsr1011/3
    as

    Download full text from publisher

    File URL: https://www.cnb.cz/export/sites/cnb/en/financial-stability/.galleries/fs_reports/fsr_2010-2011/fsr_2010-2011_article_3.pdf
    Download Restriction: no
    File URL: https://www.cnb.cz/en/financial-stability/thematic-articles-on-financial-stability/
    Download Restriction: no
    ---><---

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:cnb:ocpubc:fsr1011/3. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Jan Babecky (email available below). General contact details of provider: https://edirc.repec.org/data/cnbgvcz.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.