The effect of monetary stimulus on housing prices and the relationship of housing and rental prices in European countries
| Název práce v češtině: | Dopad monetárního stimulu na ceny bydlení a vztah cen nemovitostí a nájemného v Evropských státech |
|---|---|
| Název v anglickém jazyce: | The effect of monetary stimulus on housing prices and the relationship of housing and rental prices in European countries |
| Klíčová slova anglicky: | Housing prices, International comparison, Cities vs Countries, Panel Data, Overvalation |
| Akademický rok vypsání: | 2019/2020 |
| Typ práce: | diplomová práce |
| Jazyk práce: | angličtina |
| Ústav: | Institut ekonomických studií (23-IES) |
| Vedoucí / školitel: | Mgr. Roman Kalabiška |
| Řešitel: | skrytý - zadáno vedoucím/školitelem |
| Datum přihlášení: | 20.07.2020 |
| Datum zadání: | 20.07.2020 |
| Datum a čas obhajoby: | 15.09.2021 09:00 |
| Místo konání obhajoby: | Opletalova - Opletalova 26, O314, Opletalova - místn. č. 314 |
| Datum odevzdání elektronické podoby: | 27.07.2021 |
| Datum proběhlé obhajoby: | 15.09.2021 |
| Oponenti: | PhDr. Michal Hlaváček, Ph.D. |
| Kontrola URKUND: | |
| Seznam odborné literatury |
| Lin, W.-S., Tou, J.-C., Lin, S.-Y. and Yeh, M.-Y. (2014), "Effects of socioeconomic factors on regional housing prices in the USA", International Journal of Housing Markets and Analysis, Vol. 7 No. 1, pp. 30-41. https://doi.org/10.1108/IJHMA-11-2012-0056
Öztürk, A., Kapusuz, Y.E. and Tanrıvermiş, H. (2018), "The dynamics of housing affordability and housing demand analysis in Ankara", International Journal of Housing Markets and Analysis, Vol. 11 No. 5, pp. 828-851. https://doi.org/10.1108/IJHMA-08-2017-0079 Yang, Y., Zhou, M. and Rehm, M. (2020), "Housing prices and expectations: a study of Auckland", International Journal of Housing Markets and Analysis, Vol. 13 No. 4, pp. 601-616. https://doi.org/10.1108/IJHMA-12-2019-0122 Belke, A. & Keil, J. (2017): "Fundamental determinants of real estate prices: A panel study of German regions", Ruhr Economic Papers, vol. 731, Leibniz-Institut für Wirtschaftsforschung, Essen, Germany Égert, B. & Mihaljek, D. (2007): "Determinants of House Prices in Central and Eastern Europe", Comparative Economic Studies, October 2007, vol. 49(3), pp. 367– 388 |
| Předběžná náplň práce v anglickém jazyce |
| Research question and motivation:
The aim of this paper is to find out what economic and socioeconomic indicators have the largest correlation to the pricing of housing in different international countries and cities. These will include Berlin / Germany, Stockholm / Sweden, Los Angeles and New York / United States, Hong Kong / Hong Kong, London / England, Paris / France, Amsterdam / The Netherlands, Sydney / Australia and Toronto / Canada. Furthermore, it will investigate the correlation of the development of prices in these cities to the overall prices in the entire country. Also, it aims to investigate the price changes that can be anticipated following the Covid-19 pandemic. Lastly, it will investigate whether the analyzed cities are underpriced, fairly priced or overpriced. Contribution: This work will give policy makers and future researchers a further understanding on how prices are determined and how to impact the market through policies. But also give an estimate for the impact Covid-19 will have on the international real estate prices. While giving an updated estimate on where real estate is under-, over- or fairly-priced. All these insights should help policy makers, as well as give an understanding to investors regarding the uncertain markets during the turbulent times we are in at the moment. Methodology: The data will be taken from the national statistical institutes (e.g. Hong Kong Statistical Office), as well as other online sources such as Globalpropertyguide.com and numbeo.com. The thesis will also include robustness tests for all regressions, in order to understand the relevancy of the results. Outline: 1. Introduction 2. What influences the housing prices? 3. Correlation between pricing of major cities and overall market in the country 4. Price changes due to the Covid-19 Pandemic 5. Under- and Overpricing in the previously analyzed cities 6. Conclusion |