Residential Real Estate: Single and Multi-family Buildings

Angelo Marinangeli and Albana Nako

Chapter 3 in European Real Estate, 2015, pp 67-83 from Palgrave Macmillan

Abstract: Abstract The characteristic of the residential real estate asset class is low liquidity due to low liquidity of the residential market. While in the stock market, the current prices and bid/ask spread are known and easy to calculate, in the residential real estate market, this information can be measured on the basis of prior transactions, but unlike the securities, residential properties do not always have the same characteristics. In addition, in the stock market, there are daily data while real estate data may be weekly or monthly because, for the real estate market, high intra-year data are not frequently available. Moreover, the residential real estate prices, unlike stock prices that fluctuate more or less randomly, tend to follow a clear trend (increasing or decreasing), and price are sticky. Sometimes, price stickiness can go down when sellers tend to resist selling because they do not receive the offer desired, and they withdraw their house from the market.

Keywords: Real Estate; House Price; Housing Market; European Central Bank; Real Estate Market (search for similar items in EconPapers)
Date: 2015
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-1-137-43612-2_4

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DOI: 10.1057/9781137436122_4

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