Slovene Residential Property Prices Misalignment with Fundamentals
Črt Lenarčič and
Milan Damjanović
MPRA Paper from University Library of Munich, Germany
Abstract:
This paper replicates the computation of an aggregate indicator for Slovene house prices, using a multiple indicator approach developed for the Austrian house price data by Schneider (2013). The aim of the aggregate misalignment indicator is therefore to recognize the under- and over-valuation of house prices in Slovenia. The key findings are that during the 2004-2008 economic boom period the aggregate misalignment indicator clearly shows the significant over-valuation of Slovene house prices, while during the financial crisis there was an abrupt correction in house prices. With real house prices still declining despite recent economic recovery there is currently an under-valuation of house prices present, from the end of 2013 onwards.
Keywords: multiple indicator; house prices; under- and over-valuation (search for similar items in EconPapers)
JEL-codes: C43 C55 E31 (search for similar items in EconPapers)
Date: 2015-12-21
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Citations: View citations in EconPapers (5)
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Persistent link: https://EconPapers.repec.org/RePEc:pra:mprapa:101198
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