Shrinking and Growing Metropolitan Areas - Asymmetric Real Estate Price Reactions?
The population of Germany will be one of the first in the western hemisphere to undergo considerable permanent shrinkage. In view of the relatively low elasticities of supply and demand significant negative price reactions might be expected. This work supplements existing studies by estimating real estate prices for single-family homes on the disaggregate level of Germany’s metropolitan areas. It highlights asymmetric price reactions: growth in population numbers has no significant price effects, whereas declining population numbers lead to significant negative price effects.
|Date of creation:||2007|
|Date of revision:|
|Publication status:||Published in Hamburg Contemporary Economic Discussions, Issue 06, 2007|
|Contact details of provider:|| Postal: |
Fax: 49 (0)40 / 4123-6322
Web page: http://www.hced.uni-hamburg.de/
More information through EDIRC
References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- DiPasquale Denise & Wheaton William C., 1994. "Housing Market Dynamics and the Future of Housing Prices," Journal of Urban Economics, Elsevier, vol. 35(1), pages 1-27, January.
- K. Dascher, 2006. "Why Demolish? : East Germanyís Vacant Housing," ERES eres2006_165, European Real Estate Society (ERES).
- Mankiw, N. Gregory & Weil, David N., 1989.
"The baby boom, the baby bust, and the housing market,"
Regional Science and Urban Economics,
Elsevier, vol. 19(2), pages 235-258, May.
- N. Gregory Mankiw & David N. Weil, 1988. "The Baby Boom, The Baby Bust, and the Housing Market," NBER Working Papers 2794, National Bureau of Economic Research, Inc.
- Engelhardt, Gary V. & Poterba, James M., 1991. "House prices and demographic change: Canadian evidence," Regional Science and Urban Economics, Elsevier, vol. 21(4), pages 539-546, December.
- Ermisch, J. F. & Findlay, J. & Gibb, K., 1996. "The Price Elasticity of Housing Demand in Britain: Issues of Sample Selection," Journal of Housing Economics, Elsevier, vol. 5(1), pages 64-86, March.
When requesting a correction, please mention this item's handle: RePEc:hce:wpaper:006. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Wolfgang Maennig)
If references are entirely missing, you can add them using this form.