Residential demand (housing consumption) is affected by demographic and social characteristics such as population growth and ageing, changes in the birth rate, the rate at which new households are created, migratory movements of citizens, changes in the average size of the household and delays in forming a household. It is also related to economic factors such as the condition of the economy, changes in employment rates and changes in the mortgage market.
AbstractThe housing market is an important sector in the economy of any country. Residential demand (also referred to as 'housing consumption') depends on many demographic and social characteristics of the country's population and is also related to economic factors. The aim of the present paper was to evaluate the joint effects of economic, demographic and social factors on household behaviour with respect to housing choices. In addition, an attempt was made to determine the impact of recent economic and structural changes in Spanish society (in 1990 and 2000) on residential demand. It was found that the consequences of these structural changes will have medium-and long-term effects on housing demand and that the current economic situation has signifi cantly affected the short-term changes in this demand.
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