Determinants Of House Prices In Nine Asia Pacific Economies
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Determinants of House Prices in Nine Asia-Pacific Economies
Author | : Eloisa T. Glindro |
Publisher | : |
Total Pages | : 51 |
Release | : 2013 |
Genre | : |
ISBN | : |
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The paper investigates the characteristics of house price dynamics and the role of institutional features in nine Asia-Pacific economies during 1993-2006. On average, house prices tend to be more volatile in markets with lower supply elasticity and a more flexible business environment. At the national level, the current run-up in house prices mainly reflects adjustment to improved fundamentals rather than speculative housing bubbles. However, evidence of bubbles does exist in some market segments.
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