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Immigration and Swiss House Prices

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Author Info

  • Kathrin Degen
  • Andreas M. Fischer

Abstract

This study examines the behavior of Swiss house prices to immigration flows for 85 districts from 2001 to 2006. The results show that the nexus between immigration and house prices holds even in an environment of low house price inflation, nationwide rent control, and modest immigration flows. An immigration inflow equal to 1% of an area's population is coincident with an increase in prices for single-family homes of about 2.7%: a result consistent with previous studies. The overall immigration effect for single-family houses captures almost two-thirds of the total price increase.

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File URL: http://www.snb.ch/n/mmr/reference/working_paper_2010_16/source/working_paper_2010_16.n.pdf
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Bibliographic Info

Paper provided by Swiss National Bank in its series Working Papers with number 2010-16.

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Length: 37 pages
Date of creation: 2010
Date of revision:
Handle: RePEc:snb:snbwpa:2010-16

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Keywords: Immigration; Housing Prices;

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References

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  1. Andreas M. Fischer, 2009. "European hoarding: currency use among immigrants in Switzerland," Globalization and Monetary Policy Institute Working Paper 35, Federal Reserve Bank of Dallas.
  2. Abdurrahman Aydemir & George J. Borjas, 2010. "Attenuation Bias in Measuring the Wage Impact of Immigration," NBER Working Papers 16229, National Bureau of Economic Research, Inc.
  3. Greulich, Erica & Quigley, John M. & Raphael, Steven, 2005. "The Anatomy of Rent Burdens: Immigration, Growth and Rental Housing," Berkeley Program on Housing and Urban Policy, Working Paper Series qt63t3t356, Berkeley Program on Housing and Urban Policy.
  4. Tommaso Frattini, 2012. "Immigrazione," Rivista di Politica Economica, SIPI Spa, issue 3, pages 363-407, July-Sept.
  5. Libertad Gonzalez & Francesc Ortega, 2009. "Immigration and Housing Booms: Evidence from Spain," CReAM Discussion Paper Series 0919, Centre for Research and Analysis of Migration (CReAM), Department of Economics, University College London.
  6. Saiz, Albert, 2006. "Immigration and Housing Rents in American Cities," IZA Discussion Papers 2189, Institute for the Study of Labor (IZA).
  7. Albert Saiz, 2003. "Room in the Kitchen for the Melting Pot: Immigration and Rental Prices," The Review of Economics and Statistics, MIT Press, vol. 85(3), pages 502-521, August.
  8. Steven Stillman & David C. Maré, 2008. "Housing Markets and Migration: Evidence from New Zealand," Working Papers 08_06, Motu Economic and Public Policy Research.
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Citations

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Cited by:
  1. Andreas M. Fischer, 2011. "Immigrant language barriers and house prices," Globalization and Monetary Policy Institute Working Paper 97, Federal Reserve Bank of Dallas.
  2. Dr Max Nathan, 2013. "The Wider Economic Impacts Of High-Skilled Migrants: A Survey Of The Literature," NIESR Discussion Papers 11607, National Institute of Economic and Social Research.
  3. Karol Jan BOROWIECKI, 2011. "Dynamics of a Protected Housing Market: The Case of Switzerland," Trinity Economics Papers tep1011, Trinity College Dublin, Department of Economics, revised Oct 2011.
  4. Dan Andrews, 2010. "Real House Prices in OECD Countries: The Role of Demand Shocks and Structural and Policy Factors," OECD Economics Department Working Papers 831, OECD Publishing.
  5. Sa, Filipa, 2011. "Immigration and House Prices in the UK," IZA Discussion Papers 5893, Institute for the Study of Labor (IZA).
  6. Nicodemo, Catia & Raya, Josep Maria, 2012. "Change in the distribution of house prices across Spanish cities," Regional Science and Urban Economics, Elsevier, vol. 42(4), pages 739-748.
  7. Nathan, Max, 2013. "The Wider Economic Impacts of High-Skilled Migrants: A Survey of the Literature," IZA Discussion Papers 7653, Institute for the Study of Labor (IZA).
  8. Nicole Aregger & Martin Brown & Enzo Rossi, 2013. "Transaction Taxes, Capital Gains Taxes and House Prices," Working Papers 2013-02, Swiss National Bank.
  9. Antonio Accetturo & Francesco Manaresi & Sauro Mocetti & Elisabetta Olivieri, 2012. "Don't stand so close to me: the urban impact of immigration," Temi di discussione (Economic working papers) 866, Bank of Italy, Economic Research and International Relations Area.
  10. Fabien Candau, 2013. "Trade, FDI and Migration," International Economic Journal, Taylor & Francis Journals, vol. 27(3), pages 441-461, September.
  11. Karolien De Bruyne & Jan Van Hove, 2013. "Explaining the spatial variation in housing prices: an economic geography approach," Applied Economics, Taylor & Francis Journals, vol. 45(13), pages 1673-1689, May.
  12. Christoph Basten & Cathérine Koch, 2014. "The causal effect of house prices on mortgage demand and mortgage supply," ECON - Working Papers 140, Department of Economics - University of Zurich.

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