Cycles of the housing market in Hungary from the economic crisis until today

Artikel

The main aim of this paper is to identify the underlying reasons for the cyclical nature of the Hungarian housing market, in particular the business cycles, the construction, and market participants' expectations. Our research was conducted based on analysis of statistical data and of the housing market indices. As a result, it can be stated that cyclic behaviour of the housing market may be explained primarily with business cycles, but state subsidies and mortgages also affect the variations. Accordingly, the increasing lending and the high amount of subsidies can generate a price bubble. The supply of second-hand dwellings looks more flexible compared with that of new ones. However, the expectations of market operators do not have a demonstrable effect on the housing market.

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• Language: Englisch

References and Relationships

• Bibliographic citation: Journal: Naše gospodarstvo / Our Economy ; ISSN: 2385-8052 ; Volume: 64 ; Year: 2018 ; Issue: 2 ; Pages: 3-14 ; Warsaw: De Gruyter Open

Classification and Topics

• Classification: Wirtschaft ; Business Fluctuations; Cycles ; Urban, Rural, Regional, Real Estate, and Transportation Economics: Housing Demand ; Housing Supply and Markets
• Subject: property market ; housing market cycles ; asset price bubble

Contributors, Places and Time

• Event: Geistige Schöpfung
• (who): Harnos, László
• Event: Veröffentlichung
• (who): De Gruyter Open
• (where): Warsaw
• (when): 2018

Further information

• DOI: doi:10.2478/ngoe-2018-0007
• Handle: http://hdl.handle.net/10419/206254