The Relationship between Housing Prices and Market Transparency. Evidence from the Metropolitan European Markets
Bibliographic Data
| ID | 12633837 |
|---|---|
| Authors | Elena Ionașcu (0000-0002-0755-6736, “Alexandru Ioan Cuza” University of Iaşi), Paloma Taltavull de La Paz (0000-0002-8924-4380, University of Alicante, corresponding author), Marilena Mironiuc (0000-0002-8496-3888, “Alexandru Ioan Cuza” University of Iaşi) |
| Year | 2019 |
| Volume | 38 |
| Issue | 1 |
| Pages | 42-71 |
| Publication date | 2019-10-03 |
| Open Access | No |
| Type | ARTICLE |
| Venue | Housing Theory and Society (JOURNAL) |
| Journal identifiers | ISSN: 1403-6096 • E-ISSN: 1651-2278 |
| Publisher | Taylor & Francis (PUBLISHER • GB) |
| DOI | 10.1080/14036096.2019.1672577 |
| OpenAlex | W2978454179 |
| Language | EN |
| Citations received | 2 |
| References cited | 61 |
This paper develops an empirical analysis quantifying the housing prices reaction to market transparency in 21 European metropolitan areas for the period 2004–2016. Market transparency is measured by the Global Real Estate Transparency Index (JLL) with its five dimensions. Applying a biannual panel EGLS model regression with fixed effects by cities as on data collected from several resources and measuring transparency using JLL index, results quantify the housing price elasticity of responses to changes in transparency. Results indicate that a decrease in transparency level is associated with an increase in house prices. The effect of transparency on the housing prices is heterogeneous in European metropolises, with most visible impacts in the Eastern metropolitan areas (Bratislava, Bucharest, Warsaw and Zagreb) but also in Western areas such as Copenhagen, Dublin and Madrid. London, Paris and Amsterdam also show how large transparency contributes to low house price increase, as the market fundamentals support
Business · Econometrics · Economics · Geography · Index (typography · Metropolitan area · Panel data · Political science · Real estate · Transparency (behavior · Financial Literacy, Pension, Retirement Analysis · Housing Market and Economics · Urban Planning and Valuation · Finance
Analysis of Panel Data
Hedonic modelling, housing submarkets and residential valuation
Tax Subsidies to Owner-Occupied Housing
Changing Inequalities in Housing Outcomes across Western Europe
Free to Choose
Property Taxation and the Economy after the Barker Review
Modelling the rural land transaction procedure
The Property Market
Property Market Efficiency
The global urban housing affordability crisis
Car dependence and housing affordability
On the Aggregate Housing Market Implications of Labour Market Change
Measuring Transparency
| Citations per year | 0.67 |
|---|---|
| Citation span | 2023 - 2026 (4) |
| Highly cited | No |