Spatiotemporal analysis of German real-estate prices

Philipp Otto () and Wolfgang Schmid
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Philipp Otto: European University Viadrina
Wolfgang Schmid: European University Viadrina

The Annals of Regional Science, 2018, vol. 60, issue 1, No 3, 72 pages

Abstract: Abstract In this paper, we provide a spatiotemporal examination of German real-estate prices in 412 administrative districts. The price process is spatially autocorrelated and stationary over the considered period from 1995 to 2010. To quantify both spatial and temporal effects of the process, we apply different spatiotemporal models. These models are consistently estimated by the maximum likelihood approach, and they are compared with respect to the impact of shocks on fundamental quantities. Moreover, we interpret the economic importance of our results with respect to migrational issues. We show that the willingness of individuals to move or to commute decreased in Germany during the considered years. Furthermore, we include a detailed interpretation of the so-called ripple effect.

JEL-codes: C52 C55 J61 R12 R32 (search for similar items in EconPapers)
Date: 2018
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Citations: View citations in EconPapers (7)

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DOI: 10.1007/s00168-016-0789-y

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