Rentabilidad de la inversión en vivienda, apalancamiento y especulación (1996-2008)

Returns on housing investment,leverage and speculation (1996-2008)

Daniel Fuentes Castro

MPRA Paper from University Library of Munich, Germany

Abstract: To understand the formation and extent of the speculative tsunami that sweeps the coast of the Spanish economy since the end of 2007, it is necessary to analyze the profitability of property sales in the past decade. This article analyzes economic and financial profitability, and the multiplier effect of leverage, in the Spanish housing market. We also deal with the conditions under which homeownership is more profitable than renting. The article distinguish, among other types of investors, those that buy for residential purposes and those speculating on housing inflation.

Keywords: Compraventa inmobiliaria; Rentabilidad vivienda; Multiplicador; Apalancamiento; Alquiler; Compra; Inversión; Especulación (search for similar items in EconPapers)
JEL-codes: D80 G1 R21 R31 R38 (search for similar items in EconPapers)
Date: 2009-08
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Persistent link: https://EconPapers.repec.org/RePEc:pra:mprapa:51607

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