House Hunting High and Low: Constructing a Housing Search Index for Portugal

Frederico Godinho and Katja Neugebauer

Working Papers from Banco de Portugal, Economics and Research Department

Abstract: In this paper, we build a Housing Search Index (HSI) based on Google searches made within Portugal that are related to the house-buying process. We find that this index performs well in predicting house price changes in the short-term, especially in comparison to other predictors usually applied in this literature. The predictive model also suggests that supply indicators are not as strong predictors as the HSI, and that incorporating Google search-based foreign demand HSIs to the model adds significant predictive power.

JEL-codes: C53 R21 R30 (search for similar items in EconPapers)
Date: 2025
New Economics Papers: this item is included in nep-ure
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https://www.bportugal.pt/sites/default/files/documents/2025-04/WP202507.pdf

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Persistent link: https://EconPapers.repec.org/RePEc:ptu:wpaper:w202507

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