A Decision of a Lifetime: Housing Tenure Choice under Randomised Prices

Peter Lindner (), Thomas Y. Mathä, Maximilian Propst (), Giuseppe Pulina () and Michael Ziegelmeyer ()
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Peter Lindner: Economic Analysis Division
Maximilian Propst: Oesterreichische Nationalbank

Working Papers from Oesterreichische Nationalbank (Austrian Central Bank)

Abstract: This paper studies how households react when property prices change. Using a randomised survey experiment in Austria, it shows that lower prices raise renters’ willingness to buy and higher prices raise owners’ willingness to sell. A dynamic model for renters helps explain these choices: the bigger the gap between a renter’s reservation price and the offered price, the more likely the offer is accepted. Overall, willingness to transact remains limited.

Keywords: Household Finance; Tenure; Property; Randomised Control Trial; HFCS (search for similar items in EconPapers)
JEL-codes: D14 E43 G21 R21 (search for similar items in EconPapers)
Pages: 71
Date: 2026-10-07
New Economics Papers: this item is included in nep-mac
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