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The Impact of Non-Resident Demand on Housing Prices in Corsica
[L’impact de la demande des non-résidents sur les prix des logements en Corse]

Author

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  • Yanogah Jules Kone

    (LISA - Laboratoire « Lieux, Identités, eSpaces, Activités » (UMR CNRS 6240 LISA) - CNRS - Centre National de la Recherche Scientifique - Università di Corsica Pasquale Paoli [Université de Corse Pascal Paoli])

Abstract

This article analyses the impact of non-resident demand on house prices in Corsica, an area with strong tourist and residential appeal. Non-resident demand is assessed using a stock indicator that measures the volume of housing owned by non-residents. The data, collected at the detailed IRIS level over a twelve-year period, provide a solid basis for empirical evaluation. After a preliminary correlation analysis, an instrumental variable approach based on a shift-share instrument (Bartik) is used to address potential endogeneity issues. The results show that non-resident demand has a significant and positive effect on house prices, confirming its central role in the dynamics of the island's property market. The heterogeneity analysis indicates that the effect of non-resident demand is more limited in large coastal municipalities, where the housing market is deeper and can better absorb additional demand, while it is much stronger in municipalities with thinner markets, characterised by limited supply and infrequent transactions.

Suggested Citation

  • Yanogah Jules Kone, 2025. "The Impact of Non-Resident Demand on Housing Prices in Corsica [L’impact de la demande des non-résidents sur les prix des logements en Corse]," Post-Print hal-05569809, HAL.
    • Handle: RePEc:hal:journl:hal-05569809
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