Land prices and housing prices: the case of Spain

Artola, Amaia Altuzarra; Esteban, Marisol

doi:10.1007/s10901-011-9235-8

Cited by 16 publications

(17 citation statements)

References 21 publications

Supporting

Mentioning

Contrasting

Unclassified

Order By: Relevance

“…Because Haikou is a seaside city with tropical characteristics, the development of its tourism led to a rapid development of the real estate industry. High housing prices led to high land prices and a high demand for land [44,45]. Now, the land supply is a "double-track" system, which means that the first is the government's administrative allocation and paid transfer in the primary land market, and the second is the supply of the stock land.…”

Section: Parcel Characteristicsmentioning

confidence: 99%

Factors Influencing Land Development and Redevelopment during China’s Rapid Urbanization: Evidence from Haikou City, 2003–2016

2017

View full text Add to dashboard Cite

Land development and redevelopment (LDR) is essential to economic growth and the advancement of urbanization in urban China. Moreover, various factors affect LDR. Based on an investigation, during 2003-2016, which involves 420 parcels within a 2-km section of the Nandu River, Haikou city, this paper employs a logistic model, so as to judge the impact of LDR on these parcels, and then with an improved hedonic model, it sets out to explore the LDR influencing factors. Specifically, the results show that the impact mechanism of LDR in China is different from countries where economy is the main influencing force. Moreover, China's urban land development results from the cooperation and competition between local government and enterprises, with a particular focus on multiple political and economic factors. Hence, the paper innovatively incorporates quantifiable political and property factors that significantly influence the results. Finally, the paper tries to explain the variance from macro-level government and micro-level enterprises perspectives. In conclusion, China's land development requires cooperation among the government and enterprises, in order to improve the economic, social, and environmental benefits of land use.

show abstract

Section: Parcel Characteristicsmentioning

confidence: 99%

Factors Influencing Land Development and Redevelopment during China’s Rapid Urbanization: Evidence from Haikou City, 2003–2016

2017

View full text Add to dashboard Cite

show abstract

“…This can also be to postulate in a different proposition as in the increase of housing price will usually tends to fuel for higher supply of housing capital, with that it contributes to higher demand for land and finally higher land prices (Wen and Goodman, 2013). However empirical evidence is somewhat mixed, Ooi and Lee (2006) found that land supply through its price movement have less causation to house prices in Singapore; this outcome was also similar for Hong Kong (Tse, 1998); Spain (Altuzarra and Esteban, 2011). In contrast, study examining land and house price in China shows that housing price have greater influence on land prices (Gao and Mao, 2003;Wen and Goodman, 2013).…”

Section: Factors Influencing Supply-side Drivers Of Residential Price In Malaysiamentioning

confidence: 94%

Supply-side drivers of residential price in Malaysia: a qualitative analysis from developers' perspectives

Thaker

Ariff

2020

View full text Add to dashboard Cite

PurposeThis study aims to explore the issue of residential price in Malaysia from a supply-side perspective. The views are directly obtained from medium and small-scale developers in Malaysia.Design/methodology/approachWe used the semi-structured interview for analysis purpose. The samples are from property developers (medium and small-scale developers) and a single respondent from the Malaysian National House Buyers Association. We used the judgmental sampling method to choose respondents for this study. The interview results went through content analysis in order to derive common themes, resulting in the identification of four main themes.FindingsFirst, developers view that the residential market is growing at a good pace, albeit slowly. However, the issue of unaffordability and construction costs remains to haunt the progress of property development in Malaysia. Second, from supply-side perspectives, there are several main reasons why the residential prices in Malaysia are uncontrollable: (1) costs of construction, (2) taxes, (3) existing units, (4) location and (5) urbanization. The third theme is the government support in catering to the needs and wants of middle- and lower-income earners. Most respondents agreed that the government has been providing low-cost houses supported by various incentives. Finally, on price control strategies for residential units, recommended suggestions are as follow: embracing different methods of construction styles, promote the uses of local materials instead of relying on imported materials, continuously review rules and regulations, provide more incentives and to build partnerships between the government and private companies on affordable housing projects.Practical implicationsThe research is expected to present solid findings and claimsseveral significant contributions, especially policy-wise. We believe this contribution will enrich the existing literature on residential market. The present study is also predicted to produce noteworthy findings to all stakeholders in the real-estate industry, such as potential home buyers and existing house owners to housing developers, marketers and government policy regulators, as well as academic institutions.Originality/valueThis study is expected to enrich the existing literature available in the context of real-estate finance such as property price and property policy in emerging economies like Malaysia. One distinguishing factor which differentiates this study from others in the literature is the feedbacks obtained from medium and small-scale developers, therefore deemed to be more solid and reliable. The current research in real-estate finance is mainly focused on empirical analysis and we believe this study will offer a breakthrough view on the matter of residential market in Malaysia.

show abstract

“…The Granger test will be used to study the causal relationship between property prices and rental prices. Authors such as Altuzarra and Esteban (2011) have used this methodology to determine the relationship between land prices and housing in Spain. As these authors have mentioned, Granger's test proposal has been widely accepted as a methodological process.…”

Section: Causalitymentioning

confidence: 99%

Analysis of the effects of (de)regulation on housing prices in Spain 1977–2019

Jorge-Huertas

Moreno

2020

JES

View full text Add to dashboard Cite

PurposeThis paper analyzes the regulatory effects on homeownership and rental prices in Spain in the years between 1977m1 and 2019m5, taking into account the economic crisis. It also studies the causal relationship of the prices of private housing (owned and rented).Design/methodology/approachInterrupted time series analysis has been used to analyze the legislative impact on the construction sector. Also, the Box–Cox transformation has been used to carry out the above analysis. Finally, Granger's test has made possible to determine the causal relationship between the price series.FindingsThe results obtained in this work show the partial positive effects of legislative instrumentalization, which in general result in decreasing trends of prices in both types of housing use. Likewise, the causal relationship between the prices of owned and rented housing shows that the latter do not provide any incentive with respect to the former.Social implicationsThe social implications in this work could be important since this paper analyzes the effects of (de)regulation on housing prices in Spain, and the policy implications could help to control the speculation in housing.Originality/valueThe results obtained in this work could be relevant, both from the point of view of future housing policies and of the agents involved and that of society in general. In addition, this work could contribute to fill the existing gap in this field in Spain, given the scarce literature that raises the objective, using quantitative methodologies.

show abstract

Land prices and housing prices: the case of Spain

Cited by 16 publications

References 21 publications

Factors Influencing Land Development and Redevelopment during China’s Rapid Urbanization: Evidence from Haikou City, 2003–2016

Factors Influencing Land Development and Redevelopment during China’s Rapid Urbanization: Evidence from Haikou City, 2003–2016

Supply-side drivers of residential price in Malaysia: a qualitative analysis from developers' perspectives

Analysis of the effects of (de)regulation on housing prices in Spain 1977–2019

Contact Info

Product

Resources

About