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Long Term House Price Series for Spain: Construction and International Comparison

Paloma Taltavull de La Paz () and Francisco Juárez

ERES from European Real Estate Society (ERES)

Abstract: This paper reconstruct the long term serie of housing prices in Spain (aggregate) using statistical methods based on ARIMA models. It build the data for sixties until eighties period in quarterly basis, of weighted house prices for the Spanish aggregate and some selected regions. The method uses 2 proxies for house prices reconstruction, the GDP and Mortgage units, and base the built series on the housing market fundamentals. After that, the paper compare the Spanish housing prices with other long term series available like the UK, France, US, Germany, Netherlands, Italy and Japan. The reconstruction shows the different effect that the inflation process occurs during seventies had on housing prices and the similarities of global cycles among European countries.

JEL-codes: R3 (search for similar items in EconPapers)
Date: 2015-07-01
New Economics Papers: this item is included in nep-eur, nep-his and nep-ure
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Handle: RePEc:arz:wpaper:eres2015_239