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Determinants of house prices in nine Asia-Pacific economies

  • Eloisa T Glindro
  • Tientip Subhanij
  • Jessica Szeto
  • Haibin Zhu
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    The paper investigates the characteristics of house price dynamics and the role of institutional features in nine Asia-Pacific economies during 1993-2006. On average, house prices tend to be more volatile in markets with lower supply elasticity and a more flexible business environment. At the national level, the current run-up in house prices mainly reflects adjustment to improved fundamentals rather than speculative housing bubbles. However, evidence of bubbles does exist in some market segments.

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    Paper provided by Bank for International Settlements in its series BIS Working Papers with number 263.

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    Length: 51 pages
    Date of creation: Oct 2008
    Date of revision:
    Handle: RePEc:bis:biswps:263
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