Determinants of returns on housing: the Iranian case

Hassan Gholipour Fereidouni and Ebrahim Bazrafshan

International Journal of Housing Markets and Analysis, 2012, vol. 5, issue 4, 351-360

Abstract: Purpose - The purpose of this study is to investigate the determinants of returns on housing in Iran by analyzing capital appraisals, rents, and total returns. Design/methodology/approach - This study uses data from 28 provinces of Iran over the period of 2000‐2007. Using generalized method of moments (GMM), the determinants of returns on housing in Iran are investigated. Findings - The empirical results indicate that in particular changes in inflation and population and to a lesser extent changes in unemployment and gross domestic product (GDP) are the important determinants of returns on housing. Practical implications - The findings imply that real estate investors in Iran can obtain higher returns from their housing investment if they invest in provinces that have positive changes in population, GDP and inflation and negative changes in unemployment rate. Originality/value - Most studies in this area cover US and European real estate markets (particularly office market). Since findings for developed countries might not be directly transferable to emerging market economies such as Iran, therefore, more work is necessary to obtain a clearer picture of real estate markets in emerging market economies.

Keywords: Real estate investment; Returns on housing; Provinces of Iran; Panel data analysis; Real estate; Property finance; Return on investment; Iran (search for similar items in EconPapers)
Date: 2012
References: Add references at CitEc
Citations: View citations in EconPapers (1)

Downloads: (external link)
https://www.emerald.com/insight/content/doi/10.110 ... d&utm_campaign=repec (text/html)
https://www.emerald.com/insight/content/doi/10.110 ... d&utm_campaign=repec (application/pdf)
Access to full text is restricted to subscribers

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:eme:ijhmap:v:5:y:2012:i:4:p:351-360

DOI: 10.1108/17538271211268493

Access Statistics for this article

International Journal of Housing Markets and Analysis is currently edited by Dr Richard Reed

More articles in International Journal of Housing Markets and Analysis from Emerald Group Publishing Limited
Bibliographic data for series maintained by Emerald Support ().