IDEAS home Printed from https://ideas.repec.org/a/zbw/rwikon/13_04_im.html
   My bibliography  Save this article

Monitoring regionaler Immobilienpreise

Author

Listed:
  • Budde, Rüdiger
  • Micheli, Martin

Abstract

Immobilien haben sich in Deutschland in den vergangenen Jahren merklich verteuert. In diesem Beitrag wird untersucht, inwieweit dieser Preisanstieg auf eine nicht nachhaltige Entwicklung zurückgeführt werden muss. Wir betrachten hierfür regionale Immobilienpreise auf Ebene der Arbeitsmärkte, um räumliche Spill Over-Effekte über die administrativen Grenzen hinweg berücksichtigen zu können. Wenngleich die Preissteigerungen teils beachtliche Größenordnung erreicht haben, kann nur für einzelne Arbeitsmarktregionen eine Veränderung des Preisprozesses hin zu einem Prozess mit explosivem Verhalten, welches auf nicht nachhaltige Entwicklungen hindeutet, diagnostiziert werden.

Suggested Citation

  • Budde, Rüdiger & Micheli, Martin, 2013. "Monitoring regionaler Immobilienpreise," RWI Konjunkturberichte, RWI - Leibniz-Institut für Wirtschaftsforschung, vol. 64(4), pages 31-47.
    • Handle: RePEc:zbw:rwikon:13_04_im
    as

    Download full text from publisher

    File URL: https://www.econstor.eu/bitstream/10419/103440/1/800153413.pdf
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. Döhrn, Roland & Barabas, György & Gebhardt, Heinz & Kitlinski, Tobias & Micheli, Martin & Schmidt, Torsten & Vosen, Simeon & Zwick, Lina, 2012. "Die wirtschaftliche Entwicklung im Inland: Gedämpfte Expansion bei hohen Risiken," RWI Konjunkturberichte, RWI - Leibniz-Institut für Wirtschaftsforschung, vol. 63(2), pages 41-97.
    2. repec:zbw:rwirep:0294 is not listed on IDEAS
    3. an de Meulen, Philipp & Micheli, Martin & Schmidt, Torsten, 2011. "Forecasting House Prices in Germany," Ruhr Economic Papers 294, RWI - Leibniz-Institut für Wirtschaftsforschung, Ruhr-University Bochum, TU Dortmund University, University of Duisburg-Essen.
    4. Matteo Iacoviello & Stefano Neri, 2010. "Housing Market Spillovers: Evidence from an Estimated DSGE Model," American Economic Journal: Macroeconomics, American Economic Association, vol. 2(2), pages 125-164, April.
    5. Konstantin A. Kholodilin & Andreas Mense, 2012. "Forecasting the Prices and Rents for Flats in Large German Cities," Discussion Papers of DIW Berlin 1207, DIW Berlin, German Institute for Economic Research.
    6. Busetti, Fabio & Taylor, A. M. Robert, 2004. "Tests of stationarity against a change in persistence," Journal of Econometrics, Elsevier, vol. 123(1), pages 33-66, November.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Markus Hertrich, 2019. "A Novel Housing Price Misalignment Indicator for Germany," German Economic Review, Verein für Socialpolitik, vol. 20(4), pages 759-794, November.
    2. Budde, Rüdiger & Micheli, Martin, 2017. "Monitoring regionaler Immobilienpreise 2018: Entspannung am Häusermarkt, gestiegenes Blasenrisiko am Wohnungsmarkt," RWI Konjunkturberichte, RWI - Leibniz-Institut für Wirtschaftsforschung, vol. 68(4), pages 55-68.
    3. Budde, Rüdiger & Micheli, Martin, 2014. "Monitoring regionaler Immobilienpreise 2014: Preisauftrieb auf breiter Front - aber geringe Gefahr von Blasen," RWI Konjunkturberichte, RWI - Leibniz-Institut für Wirtschaftsforschung, vol. 65(4), pages 31-43.
    4. repec:zbw:rwimat:080 is not listed on IDEAS
    5. Phillip an de Meulen & Martin Micheli & Sandra Schaffner, 2014. "Documentation of German Real Estate Market Data - Sample of Real Estate Advertisements on the Internet Platform ImmobilienScout24," RWI Materialien, Rheinisch-Westfälisches Institut für Wirtschaftsforschung, pages 33, 09.
    6. Döhrn, Roland & Barabas, György & Fuest, Angela & Gebhardt, Heinz & Jäger, Philipp & Micheli, Martin & Rujin, Svetlana, 2016. "Die wirtschaftliche Entwicklung im Inland: Expansion bleibt robust," RWI Konjunkturberichte, RWI - Leibniz-Institut für Wirtschaftsforschung, vol. 67(3), pages 25-64.
    7. Budde, Rüdiger & Micheli, Martin, 2016. "Monitoring regionaler Immobilienpreise 2016: Gefahr einer Überhitzung am Häusermarkt gestiegen," RWI Konjunkturberichte, RWI - Leibniz-Institut für Wirtschaftsforschung, vol. 67(2), pages 17-30.
    8. an de Meulen, Philipp & Micheli, Martin & Schaffner, Sandra, 2014. "Documentation of German real estate market data: Sample of real estate advertisements on the internet platform ImmobilienScout24, 2007-2013," RWI Materialien 80, RWI - Leibniz-Institut für Wirtschaftsforschung.
    9. Rüdiger Budde & Martin Micheli, 2014. "Monitoring regionaler Immobilienpreise 2014: Preisauftrieb auf breiter Front – aber geringe Gefahr von Blasen," RWI Konjunkturbericht, Rheinisch-Westfälisches Institut für Wirtschaftsforschung, pages 13, December.

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Rüdiger Budde & Martin Micheli, 2013. "Monitoring regionaler Immobilienpreise," RWI Konjunkturbericht, Rheinisch-Westfälisches Institut für Wirtschaftsforschung, pages 17, December.
    2. Konstantin A. Kholodilin & Boriss Siliverstovs, 2017. "Think national, forecast local: a case study of 71 German urban housing markets," Applied Economics, Taylor & Francis Journals, vol. 49(42), pages 4271-4297, September.
    3. Konstantin A. Kholodilin & Boriss Siliverstovs, 2014. "Business Confidence and Forecasting of Housing Prices and Rents in Large German Cities," Discussion Papers of DIW Berlin 1360, DIW Berlin, German Institute for Economic Research.
    4. Xi Chen & Michael Funke, 2013. "Renewed Momentum in the German Housing Market: Boom or Bubble?," CESifo Working Paper Series 4287, CESifo.
    5. repec:zbw:bofism:2012_047 is not listed on IDEAS
    6. Taipalus, Katja, 2012. "Detecting asset price bubbles with time-series methods," Scientific Monographs, Bank of Finland, number 2012_047.
    7. Taipalus, Katja, 2012. "Detecting asset price bubbles with time-series methods," Bank of Finland Scientific Monographs, Bank of Finland, volume 0, number sm2012_047, July.
    8. Peter C.B. Phillips & Shu-Ping Shi & Jun Yu, 2011. "Testing for Multiple Bubbles," Working Papers 09-2011, Singapore Management University, School of Economics.
    9. Kuang, Pei, 2014. "A model of housing and credit cycles with imperfect market knowledge," European Economic Review, Elsevier, vol. 70(C), pages 419-437.
    10. Yang Hu, 2023. "A review of Phillips‐type right‐tailed unit root bubble detection tests," Journal of Economic Surveys, Wiley Blackwell, vol. 37(1), pages 141-158, February.
    11. Pei Kuang, 2013. "Imperfect Knowledge About Asset Prices and Credit Cycles," Discussion Papers 13-02, Department of Economics, University of Birmingham.
    12. Grossmann, Volker & Larin, Benjamin & Löfflad, Hans Torben & Steger, Thomas, 2021. "Distributional consequences of surging housing rents," Journal of Economic Theory, Elsevier, vol. 196(C).
    13. Arslan Yavuz, 2014. "Interest rate fluctuations and equilibrium in the housing market," The B.E. Journal of Macroeconomics, De Gruyter, vol. 14(1), pages 173-204, January.
    14. Mariarosaria Comunale, 2017. "Synchronicity of real and financial cycles and structural characteristics in EU countries," CEIS Research Paper 414, Tor Vergata University, CEIS, revised 25 Sep 2017.
    15. Federico Di Pace & Matthias Hertweck, 2019. "Labor Market Frictions, Monetary Policy, and Durable Goods," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 32, pages 274-304, April.
    16. Storesletten, Kjetil & Zhao, Bo & Zilibotti, Fabrizio, 2020. "Business Cycle during Structural Change: Arthur Lewis’ Theory from a Neoclassical Perspective," CEPR Discussion Papers 14964, C.E.P.R. Discussion Papers.
    17. Stolbov, M., 2012. "Financial Accelerator Theory and the Russian Mortgage Market," Journal of the New Economic Association, New Economic Association, vol. 13(1), pages 79-98.
    18. Hertrich Markus, 2019. "A Novel Housing Price Misalignment Indicator for Germany," German Economic Review, De Gruyter, vol. 20(4), pages 759-794, December.
    19. Manfred M. Fischer & Florian Huber & Michael Pfarrhofer & Petra Staufer‐Steinnocher, 2021. "The Dynamic Impact of Monetary Policy on Regional Housing Prices in the United States," Real Estate Economics, American Real Estate and Urban Economics Association, vol. 49(4), pages 1039-1068, December.
    20. Nyakabawo, Wendy & Miller, Stephen M. & Balcilar, Mehmet & Das, Sonali & Gupta, Rangan, 2015. "Temporal causality between house prices and output in the US: A bootstrap rolling-window approach," The North American Journal of Economics and Finance, Elsevier, vol. 33(C), pages 55-73.
    21. Yépez, Carlos A., 2018. "Financial intermediation and real estate prices impact on business cycles: A Bayesian analysis," The North American Journal of Economics and Finance, Elsevier, vol. 45(C), pages 138-160.

    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:zbw:rwikon:13_04_im. 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.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with 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: ZBW - Leibniz Information Centre for Economics (email available below). General contact details of provider: https://edirc.repec.org/data/rwiesde.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.