CEU Electronic Theses and Dissertations, 2011
| Author | Farkas, Miklós |
|---|---|
| Title | Housing Demand and Demographic Trends: Evidence from Hungary |
| Summary | This paper investigates the demand for housing in Hungary, focusing on the consequences of a contracting age structure. Demographic trends can inluence demand in two ways, namely, by changing total population and by changing age structure. The study first introduces the baseline model of housing demand and then estimates it using panel econometric techniques. Age structure is proxied by the share of young adults in the population and is added to the model as a demand shifter. The results suggest that the price and income elasticities of housing demand are at least one third (in absolute value), while even cautious estimates suggest that shrinking population and aging will,ceteris paribus, cause real house prices to decrease by 10% in the present decade. |
| Supervisor | Lieli, Robert |
| Department | Economics MA |
| Full text | https://www.etd.ceu.edu/2011/farkas_miklos.pdf |
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