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Other real estate property in selected euro area countries

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  • Michael Ziegelmeyer

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Abstract

After the household main residence (HMR), other real estate property (OREP) accounts for the second largest share of total household net wealth in the euro area. However, OREP remains mainly unstudied. Using Eurosystem HFCS data, I analyse OREP investment in Luxembourg, in selected euro area countries and in the euro area as a whole. For those households that own OREP, it represents an important share of gross wealth and generates non-negligible rental income. I identify several stylised facts of OREP characteristics with respect to their owners, type, use and location.

Suggested Citation

  • Michael Ziegelmeyer, 2015. "Other real estate property in selected euro area countries," BCL working papers 99, Central Bank of Luxembourg.
    • Handle: RePEc:bcl:bclwop:bclwp099
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    File URL: http://www.bcl.lu/fr/Recherche/publications/cahiers_etudes/99/BCLWP099.pdf
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    References listed on IDEAS

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    1. Luc Arrondel & Laura Bartiloro & Pirmin Fessler & Peter Lindner & Thomas Y. Mathä & Cristiana Rampazzi & Frédérique Savignac & Tobias Schmidt & Martin Schürz & Philip Vermeulen, 2016. "How Do Households Allocate Their Assets? Stylized Facts from the Eurosystem Household Finance and Consumption Survey," International Journal of Central Banking, International Journal of Central Banking, vol. 12(2), pages 129-220, June.
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    3. Thomas Y. Mathä & Alessandro Porpiglia & Michael Ziegelmeyer, 2014. "Wealth differences across borders and the effect of real estate price dynamics: Evidence from two household surveys," BCL working papers 90, Central Bank of Luxembourg.
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    Citations

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    Cited by:

    1. Yiwen Chen & Thomas Y. Mathä & Giuseppe Pulina & Barbara Schuster & Michael Ziegelmeyer, 2020. "The Luxembourg Household Finance Consumption Survey: Results from the third wave," BCL working papers 142, Central Bank of Luxembourg.
    2. Anastasia Girshina & Thomas Y. Mathä & Michael Ziegelmeyer, 2017. "The Luxembourg Household Finance and Consumption Survey: Results from the 2nd wave," BCL working papers 106, Central Bank of Luxembourg.
    3. Thomas Y. Mathä & Giuseppe Pulina & Michael Ziegelmeyer, 2018. "The Cross-border Household Finance and Consumption Survey: Results from the second wave," BCL working papers 119, Central Bank of Luxembourg.

    More about this item

    Keywords

    household finance; individual portfolio choice; real assets;

    JEL classification:

    • D10 - Microeconomics - - Household Behavior - - - General
    • D14 - Microeconomics - - Household Behavior - - - Household Saving; Personal Finance
    • D31 - Microeconomics - - Distribution - - - Personal Income and Wealth Distribution

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