Spanish housing markets during the first phase of the rural-urban transition process

Joan Rosés
Authors registered in the RePEc Author Service: Markus Lampe and Juan Carmona ()

IFCS - Working Papers in Economic History.WH from Universidad Carlos III de Madrid. Instituto Figuerola

Abstract: This paper discusses how Spain’s housing markets reacted to the far-reaching changes that affected the demand for dwellings during the first phase of the rural-urban transition process. To this end, we construct a new hedonic index of real housing prices and assemble a cross-regional panel dataset of price fundamentals. The results of our econometric analysis suggest that housing markets did not face supply constraints, responded swiftly to the growing demand for accommodation and were efficient. In light of this new evidence, we conclude that housing markets were not a burden for Spanish economic development and that Spain’s institutional and regulatory frameworks were suitable for the housing needs at the time.

Keywords: Regulation; in; housing; markets; Hedonic; prices; Demand; and; supply; of; housing (search for similar items in EconPapers)
JEL-codes: N93 N94 R30 (search for similar items in EconPapers)
Date: 2011-07
New Economics Papers: this item is included in nep-his and nep-ure
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Persistent link: https://EconPapers.repec.org/RePEc:cte:whrepe:wp11-08

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