Housing markets during the rural-urban transition : evidence from early 20th century Spain
AbstractThis paper discusses how Spain’s urban housing markets reacted to the farreaching changes that affected the demand for dwellings during the first phase of the rural-urban transition process. To this end, we construct a new hedonic index of real housing prices and assemble a cross-regional panel dataset of price fundamentals. The results of our econometric analysis suggest that urban housing markets did not face supply constraints and responded swiftly to the growing demand for accommodation. In light of this new evidence, we conclude that housing markets were not a burden for Spanish economic development and that Spain’s urban infrastructure and institutional framework and were suitable for the housing needs at the time
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Bibliographic InfoPaper provided by Universidad Carlos III, Departamento de Historia Económica e Instituciones in its series Working Papers in Economic History with number wp12-10.
Date of creation: Oct 2012
Date of revision:
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Hedonic prices; Demand and Supply of Housing; Regulation in Housing Markets;
Other versions of this item:
- Juan Carmona Pidal & Markus Lampe & Joan Ramón Rosés, 2012. "Housing Markets during the Rural-Urban Transition: Evidence from early 20th Century Spain," Working Papers 0030, European Historical Economics Society (EHES).
- N93 - Economic History - - Regional and Urban History - - - Europe: Pre-1913
- N94 - Economic History - - Regional and Urban History - - - Europe: 1913-
- R30 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Real Estate Markets, Spatial Production Analysis, and Firm Location - - - General
This paper has been announced in the following NEP Reports:
- NEP-ALL-2012-11-17 (All new papers)
- NEP-GEO-2012-11-17 (Economic Geography)
- NEP-HIS-2012-11-17 (Business, Economic & Financial History)
- NEP-URE-2012-11-17 (Urban & Real Estate Economics)
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