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House Price Developments in Europe.
House prices in Europe have shown diverging trends, and this paper seeks to explain these differences by analyzing three groups of countries: the ""fast lane"", the average performers, and the slow movers. Price movements in the first two groups are found to be driven mostly by i...
| Clasificación: | Libro Electrónico |
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| Autor principal: | |
| Otros Autores: | , , |
| Formato: | Electrónico eBook |
| Idioma: | Inglés |
| Publicado: |
Washington :
International Monetary Fund,
2008.
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| Colección: | IMF Working Papers.
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| Temas: | |
| Acceso en línea: | Texto completo |
Tabla de Contenidos:
- I. Introduction; II. Understanding Market Developments; A. Key Features; Boxes; 1. Aspects of Housing Markets; B. Determining Factors and Indicators; 2. User Cost Framework; C. Impact of Policies; Tables; 1. Indicators for Housing Market Conditions and Trends; Figures; 1. Key Policy Relationships; III. The European Picture: House Price Developments in Selected Countries; A. Market Developments; 2. Real House Price Index; 2. Average Real Property Prices, 1985-2007; B. Demand Factors; 3. House Prices and Income, 1985-2006; 4. House Prices and Interest Rates, 1985-2006.
- 5. Demographics, 1985-20063. Evolution of User Costs in Europe, 1995-2006; 4. Understanding the Decline in User Costs in Europe, 2000-05; 3. Measuring User Costs in Europe; 5. Home Ownership in Europe; 6. Home Ownership and Property Price Appreciation; 7. Housing and Household Wealth; C. Supply Side and Rental Market; 6. Housing Stocks; 8. House Prices and Housing Supply, 1985-2006; 7. Housing Stock Rented from Government and Social Housing; 9. House Prices and Rents, 1985-2006; D. Taxation Issues; 10. Price-Rental Ratio and Housing Stock; 8. Property-Related Taxes.
- 11. Selected European Countries: Property Taxes by Level, 1975-200512. Selected European Countries: Property Tax Change, 1975-2005; 13. Selected European Countries: Property Tax Deflated by House Prices, 1975-2005; E. Financial Sector; 14. Financial Sector Lending for Residential Property, 1990-2004; 15. Mortgage Lending Growth and Property Prices; 9. Mortgage Market Completeness Indicators; IV. Assessing House Price Developments: An Empirical Approach; A. House Price Model; 4. Do Housing Prices Reflect a Bubble?; B. Empirical Evidence; 10. Standard Model Estimates for P/Rent.
- 11. Standard Model Estimates for P12. User Costs and Interest Rates; 16. Understanding the House Price-Rental Ratio; 17. Understanding the House Price; 13. Extended Model Estimates; 14. The Impact of the Risk-Free Interest Rate on User Costs; 15. Overvaluation Resulting from an Increase in Interest Rates; 18. Overvaluation in Housing Markets in Europe; V. Summary and Concluding Remarks; References; Appendices; I. Data Sources; II. Housing-Related Taxation.