Rethinking the Relationship Between Housing Prices and Inflation: New Evidence From 29 Large Cities in China

Tang, Jianli; Ye, Kunhui; Yan, Qian

doi:10.3846/ijspm.2019.7800

Cited by 13 publications

(13 citation statements)

References 33 publications

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“…There are a number of empirical studies focusing on the association between inflation and house prices (Ibbotson and Siegel, 1984; Case and Shiller, 1990; Hoesli, 1994; Clapp and Carmelo, 1994; Hoesli et al , 1997; Ling and Naranjo, 1997; Bond and Seiler, 1998; Shiratsuka, 1999; Kenny, 1999; Sing and Low, 2000; Anari and Kolari, 2002; Apergis and Rezitis, 2003; Kontonikas and montagnoli, 2004; Duan, 2007; Ma and Liu, 2008; Goodhart and Hofmann, 2008; Samimi et al , 2008; Hossain and Latif, 2009; Lee, 2009; Iacoviello and Neri, 2010; Lu and Zhang, 2011; Inglesi-Lotz and Gupta, 2013; Amonhaemanon et al , 2013; Li and Chen, 2015; Tang et al , 2018). A number of studies focusing on the real estate ability to hedge against inflation investigated the correlations between inflation and rates of return on real estate.…”

Section: Literaturementioning

confidence: 99%

The relationship between housing prices and inflation rate in Turkey

Korkmaz

2019

IJHMA

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Purpose Human beings need shelter as the beginning of their existence. Same holds true for people who live in Turkey as it is a cultural and traditional reason to be the host and endeavor to buy a home even if one has to pay the debt for years. Another factor that is important for individuals and even for countries is the inflation rate. In this context, the purpose of this study is to investigate whether the 26 regions of Turkey are affected by the inflationary pressure, specifically in the housing price index (HPI). Design/methodology/approach For this purpose, data from 2010:01 to 2019:01 and the consumer price index (CPI), as well as HPI have been used. The causal relationship between the variables is analyzed by Konya Causality (2006) test. Findings The key results suggest that HPI causes inflationary pressures in some regions. Research limitations/implications The study has some limitations in terms of data set and scope. These are as follows: although there are many variables affecting housing prices, this study aims to investigate the causal link between inflation and housing prices. In addition, only the CPI and HPI variables were provided on a monthly basis in the 2010-2019 period for 26 regions due to the aim of making regional propositions in the investigation of this relationship. For these reasons, different macroeconomic variables could not be studied. Originality/value This study makes the following contribution to the literature. While the majority of existing literature investigates the relationship between housing prices and inflation from an empirical perspective for country, very few studies have been for the sub-regions and also these studies have focused on only some sub-regions. In other words, in the literature review, a study has observed that Turkey has to examine the relationship between the housing price and inflation variables for all sub-regions in particular. To overcome this deficiency in the literature, this study aims to investigate the relationship between housing price and inflation for 26 regions.

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Section: Literaturementioning

confidence: 99%

The relationship between housing prices and inflation rate in Turkey

Korkmaz

2019

IJHMA

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“…Yu and Huang (2016) concluded that the central and western cities in China responded to the change of HPI more obviously than eastern cities or a particular first-tier city. On the other hand, Tang et al (2019) didn't find any long-term relationship between housing prices and inflation in 29 large Chinese cities.…”

Section: International Journal Of Strategic Property Managementmentioning

confidence: 94%

Macroeconomic Variables Influencing Housing Prices in Vilnius

Laurinavičius

2021

International Journal of Strategic Property Management

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The way macroeconomic variables such as unemployment/GDP per capita/inflation/wages/internal migration influenced housing prices (nominal house prices and housing rent prices) in Vilnius in 2006–2019 has been investigated in the research. Conditions under which different macroeconomic variables could influence housing prices were established in the research. Lower unemployment, higher GDP per capita and inflation rate were all related to higher nominal house prices in Vilnius. Higher GDP per capita, wages and internal migration were positively related to housing rent prices in Vilnius. Analyzed macroeconomic variables all together explained 88 percent of variance of nominal house prices in Vilnius over the period of 2006–2019 and 80 percent of variance of housing rent prices in Vilnius over the same period.

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“…It has over the years been termed to mean a certain and periodic payment or service made or rendered by the tenant of a corporeal hereditament in legal terms or simply return for the use of land. Rent provides the basis for constructing property indices (Taltavull de la Paz & McGreal, 2019;Tang & Qian, 2019).…”

Section: Commercial Real Estate Rental Studiesmentioning

confidence: 99%

Commercial Real Estate Rental Variation in Ilorin, Nigeria

Abdulmalik

Udoekanem

2022

Baltic Journal of Real Estate Economics and Construction Management

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The goal of any real estate investor is to maximize return. This can be achieved through the generation of rental income. Thus, it is pertinent that the nature and characteristics of rental value are understood by investors to enhance real estate market penetration. This study examined commercial real estate rental variation in Ilorin, Nigeria, with specific focus on commercial complexes. For data collection, the study area was delineated into three commercial zones. Primary data for the study were collected from occupiers of commercial complexes and property valuers operating within these areas through structured questionnaire, based on purposive sampling technique. The study utilised an analysis of variance (ANOVA) technique to analyse the variation in rental values of commercial complexes in the study area. Results of data analysis revealed a statistically significant variation in rental values of commercial complexes in the study area (F ꞊ 16.70809, p ≤ 0.05) and an increasing trend of the rental values over the years under study as indicated by the rental index. This variation is perceived to be caused by the safety and quality of location, building visibility and lease term (RII ꞊ 0.97, 0.93 and 0.88, respectively). The study recommends that real estate investors should consider these factors when investing in commercial complexes across the commercial zones in Ilorin.

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Rethinking the Relationship Between Housing Prices and Inflation: New Evidence From 29 Large Cities in China

Cited by 13 publications

References 33 publications

The relationship between housing prices and inflation rate in Turkey

The relationship between housing prices and inflation rate in Turkey

Macroeconomic Variables Influencing Housing Prices in Vilnius

Commercial Real Estate Rental Variation in Ilorin, Nigeria

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