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 far-reaching changes that affected the demand for dwellings during the first phase of the ruralurban 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 European Historical Economics Society (EHES) in its series Working Papers with number 0030.
Length: 33 pages
Date of creation: Nov 2012
Date of revision:
Hedonic prices; Demand and Supply of Housing; Regulation in Housing Markets.;
Other versions of this item:
- Juan Carmona Pidal & Markus Lampe & Joan R. Rosés, 2012. "Housing markets during the rural-urban transition : evidence from early 20th century Spain," Working Papers in Economic History wp12-10, Universidad Carlos III, Departamento de Historia Económica e Instituciones.
- 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-2012-11-11 (All new papers)
- NEP-GEO-2012-11-11 (Economic Geography)
- NEP-HIS-2012-11-11 (Business, Economic & Financial History)
- NEP-URE-2012-11-11 (Urban & Real Estate Economics)
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