Tourism housing price nexus

Abstract

Tourism’s positive and negative externalities are of an extreme social and economic importance for the tourism dominant countries. In particular, studying tourism’s impact on housing prices has experienced increased interest over the past decade as it has a relevant influence on real estate economics and housing market development, which spills over the entire economy. Considering the limited existing literature, the objective of this paper is to provide an overview of the previous studies, which summarizes prevailing findings about the impact of tourism on housing prices with respect to three different streams: tourism activity, tourism accommodation capacity and tourism amenities. This paper offers a comprehensive theoretical background and clear-cut insight in tourism’s impact on housing prices, with a great attention to possible issues that may emerge due to tourism heterogeneity across countries. For the same reason, it is beneficiary not only to real estate agents but likewise to decision makers in tourism industry.

The Impact of Selected Macroeconomic Variables on House Prices in Croatia

“…Namely, the general conclusion that could be expressed is that tourism activity positively affects home prices. A good overview of papers on the impact of tourism on house prices can be found in Čeh Časni & Filić (2022). One of their conclusions is that due to the lack of data on prices at the regional and local level, the literature on the relationship between tourism and housing prices is rather limited and that further research is needed in this area.…”