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Rent dynamics in France between 1970 and 2013

Author

Listed:
  • Alexis Pourcelot

    (Université Paris Dauphine-PSL - PSL - Université Paris Sciences et Lettres)

  • Alain Coën

    (UQAM - Université du Québec à Montréal = University of Québec in Montréal)

  • Richard Malle

    (LIRSA - Laboratoire interdisciplinaire de recherche en sciences de l'action - CNAM - Conservatoire National des Arts et Métiers [CNAM] - HESAM - HESAM Université - Communauté d'universités et d'établissements Hautes écoles Sorbonne Arts et métiers université)

  • Arnaud Simon

    (Université Paris Dauphine-PSL - PSL - Université Paris Sciences et Lettres)

Abstract

Purpose The purpose of this study is to highlight the determinants of market rents and to build a hedonic market rent index for each urban area and rental sector in France for the period 1970–2013. The authors also analyse the market rent dynamics over this period, with a special attention to the turning points in the French housing policy. Design/methodology/approach For this purpose, the authors implement a hedonic model, called stratified time dummy variable, using the Box–Cox transformation as a functional form. Findings The contribution of this study to the housing research is threefold: First, the study improves our understanding of the French's rental submarket specificities and their valuation. It sheds new light on the determinants of rents. Second, this study builds a hedonic market rent index over the period 1970–2013 for each geographical and sectoral segment (Paris urban area, urban areas of more and less than 100,000 inhabitants and private and public rental sectors). Third, this study explains rent dynamics focusing on the turning points in the French housing policy. Originality/value Finally, the authors provide the first long-term market rent index in France by submarket (geographical and sectoral). In the case of the French market, no long-term market rent exists. The only long series available is an indexed rent.

Suggested Citation

  • Alexis Pourcelot & Alain Coën & Richard Malle & Arnaud Simon, 2020. "Rent dynamics in France between 1970 and 2013," Post-Print hal-03713559, HAL.
    • Handle: RePEc:hal:journl:hal-03713559
    DOI: 10.1108/JERER-12-2019-0057
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    Cited by:

    1. Lee, Hung-Wei & Lin, Che-Chun & Tsai, I-Chun, 2023. "Another application of call options: Explaining the divergence between the housing market and the rental market," Finance Research Letters, Elsevier, vol. 53(C).

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