Bericht

European real estate markets during the pandemic: Is COVID-19 also a case for house price concerns?

We use a new database on European real estate purchase and rental prices - the IWH European Real Estate Index - to document the relationship between staggered COVID-19 dynamics and real estate prices in 14 EU countries between January 2020 and December 2021. For most countries, we find no statistically significant response of monthly purchase and rental prices due to an increase of regional COVID-19 cases. For the UK we find that more COVID-19 cases depressed both purchase and rental prices significantly, but the economic magnitude of effects was mild during this sample period. In contrast, rents in Italy increased in response to hiking COVID-19 cases, illustrating the importance to consider heterogeneous crisis patterns across the EU when designing policies. Overall, COVID-19 dynamics did not affect real estate values significantly during the pandemic, thereby mitigating potential financial stability concerns via a mortgage lending channel at the time.

Sprache
Englisch

Erschienen in
Series: IWH Policy Notes ; No. 3/2022

Klassifikation
Wirtschaft
Thema
Immobilienmarkt
Immobilienpreis
Coronavirus
EU-Staaten

Ereignis
Geistige Schöpfung
(wer)
Koetter, Michael
Noth, Felix
Ereignis
Veröffentlichung
(wer)
Leibniz-Institut für Wirtschaftsforschung Halle (IWH)
(wo)
Halle (Saale)
(wann)
2022

Handle
Letzte Aktualisierung
10.03.2025, 11:42 MEZ

Datenpartner

Dieses Objekt wird bereitgestellt von:
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.

Objekttyp

  • Bericht

Beteiligte

  • Koetter, Michael
  • Noth, Felix
  • Leibniz-Institut für Wirtschaftsforschung Halle (IWH)

Entstanden

  • 2022

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