Shrinking and Growing Metropolitan Areas - Asymmetric Real Estate Price Reactions?

Lisa Dust and Wolfgang Maennig
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Lisa Dust: Hamburger Weltwirtschaftsinstitut (HWWI)

No 6, Working Papers from Chair for Economic Policy, University of Hamburg

Abstract: The population of Germany will be one of the first in the western hemisphere to undergo considerable permanent shrinkage. In view of the relatively low elasticities of supply and demand significant negative price reactions might be expected. This work supplements existing studies by estimating real estate prices for single-family homes on the disaggregate level of Germany’s metropolitan areas. It highlights asymmetric price reactions: growth in population numbers has no significant price effects, whereas declining population numbers lead to significant negative price effects.

Keywords: shrinking population; real estates; asymmetric price reactions; regional analysis (search for similar items in EconPapers)
JEL-codes: R12 R21 R31 (search for similar items in EconPapers)
Pages: 18 pages
Date: 2007
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Citations: View citations in EconPapers (17)

Published in Hamburg Contemporary Economic Discussions, Issue 06, 2007

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http://www.hced.uni-hamburg.de/WorkingPapers/HCED_06.pdf First version, 2007 (application/pdf)

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Persistent link: https://EconPapers.repec.org/RePEc:hce:wpaper:006

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