Measuring Heterogeneity of House Price Developments in Hungary, 1990–2016

Adam Banai, Nikolett Vágó () and Sándor Winkler ()
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Nikolett Vágó: Nemzeti Bank (MNB, the central bank of Hungary), Budapest, Hungary
Sándor Winkler: Nemzeti Bank (MNB, the central bank of Hungary), Budapest, Hungary

Acta Oeconomica, 2018, vol. 68, issue 3, 377-414

Abstract: This study presents the detailed methodology of generating house price indices for the Hungarian market. The index family is an expansion of the Hungarian housing market statistics in several regards. The nationwide index is derived from a database starting from 1990, and thus the national index is regarded as the longest in comparison to the house price indices available so far. The long time series allow us to observe and compare the real levels of house prices across economic cycles. Another important innovation of this index family is its ability to capture house developments by regions and settlement types, which sheds light on the strong regional heterogeneity underlying the Hungarian housing market.

Keywords: housing market; house price index; hedonic regression; Hungary (search for similar items in EconPapers)
JEL-codes: C43 R21 R31 (search for similar items in EconPapers)
Date: 2018
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