Housing affordability in Romania. Towards quantifying the trends

Costin Ciora

Romanian Journal of Economics, 2015, vol. 40, issue 1(49), 126-137

Abstract: In recent years, the impact of negative price movement of housing has led to difficulties both to sellers and potential buyer. This intense volatility has affected not only the financial sector but also the way in which housing affordability can be understood and measured. With variation in prices, together with variation in income, assessing housing affordability for different periods could be difficult, because of the changing economic environment. The aim of this paper is to answer the question of housing affordability measurement by applying it to the Romanian real estate market. The development of cities creates the premises for new apartments that should be affordable. Also, old apartments should be considered more affordable. Our research provides an indepth analysis on measuring apartment affordability in Bucharest, by taking into consideration different age intervals relevant for the study.

Keywords: O18; R21; R31 (search for similar items in EconPapers)
JEL-codes: O18 R21 R31 (search for similar items in EconPapers)
Date: 2015
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Persistent link: https://EconPapers.repec.org/RePEc:ine:journl:v:40:y:2015:i:49:p:126-137

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