This study examines the relationship between above-market price (or overpricing), along with various housing attributes, and time on the market (TOM). The study covers nearly 4,000 transactions of marketed domestic units of different living tenures, flat sizes, price ranges, and other physical characteristics in the Hong Kong residential property market. The results show that factors such as th...

• In 2014, UK house prices per square metre were the second highest in the world (topped only by Monaco), with especially high valuations in London and the South East. New houses are about 40% smaller than in similarly densely populated European countries. • Over the last 40 years, house price growth in the UK has been faster than in any other OECD country and has far outstripped earnings growt...

Munksøgård is a housing community near the city of Roskilde, Denmark. In 2014, Munksøgård's residents have agreed to change the existing heat supply system. The choice of future heat supply was narrowed to heat pumps, new biomass boiler and connection to nearby district heating network. The present paper compares results from techno-economic energy system analysis, simple private-economic analy...

Despite the importance of housing in macroeconomic fluctuations, underscored by the Great Recession, there remains a dearth of information about housing markets prior to the 1980s, thus depriving social scientists of a wealth of case studies from which to draw insights. This paper constructs for the first time a housing price index for Dublin stretching back to 1900. Principal contributions of ...

The critical housing shortage in cities of the developing countries like Cameroon generates an ever-growing desire to increase housing supply. The main group of actors in this domain are by and large the formal sector, while the informal sector is still inactive. Because of the legalities and costs associated with the formalities surrounding the provision of formal housing, the majority of urba...

I process satellite-generated data on terrain elevation and presence of water bodies to precisely estimate the amount of developable land in U.S. metropolitan areas. The data show that residential development is effectively curtailed by the presence of steep-sloped terrain. I also find that most areas in which housing supply is regarded as inelastic are severely land-constrained by their geogra...

In a recen t study, Peng and Wheaton empirically exam ine the effect of restricti ve land supply on Hong Kong house prices. However, we argue that the impact of the supply of new land by the Hong Kong government is not as important as they maintain in accounting for the volatile house prices in Hong Kong. We show that there is no causal relation ship between land supply and housing prices. Our ...

We explore the impact of local economic conditions on the type and size of newly constructed housing. A slightly modified standard open monocentric city model predicts that, as long as land use regulation is relatively lax, positive local income shocks cause construction of more multifamily housing and smaller units. Exploiting metro area-level American Housing Survey (AHS) data from 1984 to 20...

* Copies of these and other Urban Center publications are available on the web site, www.brookings.edu/urban, or by calling the Urban Center at (202) 797-6139. Foundation for their support of our work on metropolitan trends. The Center's Metropolitan Initiative aims to better understand the mix of market, demographic and policy trends that contribute to the growth and development patterns we se...

We consider which factors determined the price–rent ratio for the housing market in 18 U. S. metropolitan statistical areas (MSAs) and at the national level over the period of 1975– 2014. Based on a present-value framework, our proposed empirical model separates the price–rent ratio for a given market into unobserved components related to the expected real rent growth and the expected housing r...