Immigration and Swiss House Prices

Degen, Kathrin; Fischer, Andreas

doi:10.1007/bf03399433

Cited by 55 publications

(55 citation statements)

References 28 publications

(37 reference statements)

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“…Previous research has found estimates of positive sign and similar magnitude. The coefficients for both house prices are very similar to existing IV estimated elasticities, such as Saiz (2007) (who finds 0.9 for rents and 3.2 for prices), Degen & Fischer (2010) who find 2.7 for Swiss prices, González & Ortega (2009) who find 3.2 for house prices and Ottaviano & Peri (2007) who find 0.7 for rents and between 1-2 for prices.…”

Section: Effect Of Immigration On House Pricessupporting

confidence: 82%

“…When I refer to house prices as opposed to rents, the term corresponds to transaction prices. 4 Other studies include Stillman & Maré (2008) who provide positive impact estimates for New Zealand; Degen & Fischer (2009) who find positive effects for Switzerland; Akbari & Aydede (2012) find positive but small impacts in Canada; Frostad (2014) estimates the impact in Norway; and Kürschner (2017) for Germany. More recently, Tumen (2016) study the impact of the Syrian refugees inflow on Turkish housing rents and finds a positive effect on high quality units and no effect on low-quality units.…”

Section: Introductionmentioning

confidence: 99%

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Decomposing the Impact of Immigration on House Prices

Sanchis-Guarner

2017

SSRN Journal

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An inflow of immigrants into a region impacts house prices in three ways. For a fixed level of local population, housing demand rises due to the increase in foreign-born population. In addition, immigrants can influence native location decisions and induce additional shifts in demand. Finally, changes in housing supply conditions can in turn affect prices. Existing reduced form estimates of the effect of immigration on house prices capture the sum of all these effects. In this paper, I propose a methodology to identify the different channels driving the total effect. I show that, conditional on supply, total changes in housing demand can be decomposed into the sum of direct immigrant demand and indirect demand changes from relocated population. The size and sign of the indirect demand effect depends on the impact of immigration on native mobility. I use Spanish data during the period 2001-2012 to estimate the different elements of the decomposition, applying an instrumental variables strategy to obtain consistent coefficients. The results show that overlooking the impact of immigration on native location induces a sizeable difference between the total and the immigrant demand effects, affecting the interpretation of the estimates.

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Section: Effect Of Immigration On House Pricessupporting

confidence: 82%

Section: Introductionmentioning

confidence: 99%

Decomposing the Impact of Immigration on House Prices

Sanchis-Guarner

2017

SSRN Journal

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“…They estimated an annual 2% increase in housing prices, and a 1.2-1.5% increase in housing units. Degan & Fisher [31] likewise found a 2.7% growth in housing prices correlating with a 1% growth in the immigrant population in Switzerland, despite a flat market and a low level of immigration. Sà [32], on the other hand, identified a negative correlation between immigration and housing prices due to the previously-mentioned mobility of the native population.…”

Section: Housing Prices and Immigrationmentioning

confidence: 85%

Immigrants and the City: The Relevance of Immigration on Housing Price Gradient

Antoniucci

Marella

2017

Buildings

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Foreign citizens are a more and more significant part of the population of Italian cities and society (8% of the country's total population), and they contribute to changes in the cultural, social, and economic structure of the country. Our aim was to assess the incidence of the immigrant population on urban house price polarization, as measured using an original indicator: the center-periphery housing price gradient. While there is ample literature on the relationship between average prices and immigrant populations, less research has been conducted on immigration and the housing price gradient on a national scale. This price gradient may indicate whether immigration contributes to changing the residential market, also possibly revealing segregation phenomena. We ran multivariate regressions in several steps on an original dataset of housing prices and socio-economic factors concerning 112 Italian provincial capitals to elucidate whether immigration is correlated with the housing market divide. Our main findings confirmed that larger immigrant populations coincide with steeper housing price gradients on a national scale. Our tests also demonstrated that the relevance of this phenomenon varies for different urban forms, confirming related to housing price dynamics between the cities of northern and southern Italy the relevance of urban density in elucidating.

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“…Gonzales and Ortega [26] measured the correlation between the housing market boom in Spain (2000-2010) and the rising of immigration. Furthermore, a 2.7% growth in housing prices in Switzerland is correlated with a 1% growth in the immigrant population, despite a flat market and a low level of immigration [27]. On the contrary, others identified in the UK a negative correlation between immigration and housing prices due to the mobility of the native population facing foreign resident's concentration [28].…”

Section: The Housing Market and The Living Conditions Of Immigrants Imentioning

confidence: 99%

Immigration and the Housing Market: The Case of Castel Volturno, in Campania Region, Italy

2018

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According to Eurostat, Italy is the fifth country of the European Union per immigrant population. The complexity of the phenomenon, as it has evolved in recent years, leads to analyzing it from a specific point of view, that of the real estate market. The article represents the early stage of research on the housing condition of the immigrant population in the Southern Italy and its effect on the housing market. First, we describe the spatial segregation phenomenon affecting the immigrant population in Campania Region; then we analyze data of the municipality of Castel Volturno, which has one of the greater migratory pressure throughout the whole region. We provide statistical regressions correlating housing prices and socio-economic features from 2006 to 2016. The results confirm the findings of the current literature on the subject: there is a specific phenomenon associated with the presence of an immigrant population residing in conjunction with a reduction of housing prices.

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Immigration and Swiss House Prices

Cited by 55 publications

References 28 publications

Decomposing the Impact of Immigration on House Prices

Decomposing the Impact of Immigration on House Prices

Immigrants and the City: The Relevance of Immigration on Housing Price Gradient

Immigration and the Housing Market: The Case of Castel Volturno, in Campania Region, Italy

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