Housing Price and Investment Dynamics in Finland: = Prix du logement et la dynamique d'investissement en Finlande
The Finnish housing market is volatile. After declining significantly as the global financial crisis unfolded, housing prices and investment recovered to reach new peaks. This paper uses a small econometric model to assess the role of fundamentals in housing price and investment developments. Curren...
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| Main Author: | |
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| Other Authors: | |
| Format: | Electronic eBook |
| Language: | English |
| Published: |
Paris
OECD Publishing
2012
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| Series: | OECD Economics Department Working Papers
no.962 |
| Subjects: | |
| Online Access: | DE-862 DE-863 |
| Summary: | The Finnish housing market is volatile. After declining significantly as the global financial crisis unfolded, housing prices and investment recovered to reach new peaks. This paper uses a small econometric model to assess the role of fundamentals in housing price and investment developments. Current housing valuations and residential investment are broadly in line with the model estimates. Housing market volatility is exacerbated by fluctuations in the wider economy, which given its size and openness is vulnerable to external shocks. Structural features of the housing market also make it prone to volatility. The paper describes institutional characteristics of the Finnish housing market that bear on house price volatility and supply responsiveness. These relate to the structure of tenures, housing taxation and subsidies, social housing, financing, land-use planning, and competition in the construction industry. |
| Physical Description: | 1 Online-Ressource (29 Seiten) 21 x 29.7cm. |
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| spelling | André, Christophe VerfasserIn aut Housing Price and Investment Dynamics in Finland = Prix du logement et la dynamique d'investissement en Finlande Christophe, André and Clara, García Prix du logement et la dynamique d'investissement en Finlande Paris OECD Publishing 2012 1 Online-Ressource (29 Seiten) 21 x 29.7cm. Text txt rdacontent Computermedien c rdamedia Online-Ressource cr rdacarrier OECD Economics Department Working Papers no.962 The Finnish housing market is volatile. After declining significantly as the global financial crisis unfolded, housing prices and investment recovered to reach new peaks. This paper uses a small econometric model to assess the role of fundamentals in housing price and investment developments. Current housing valuations and residential investment are broadly in line with the model estimates. Housing market volatility is exacerbated by fluctuations in the wider economy, which given its size and openness is vulnerable to external shocks. Structural features of the housing market also make it prone to volatility. The paper describes institutional characteristics of the Finnish housing market that bear on house price volatility and supply responsiveness. These relate to the structure of tenures, housing taxation and subsidies, social housing, financing, land-use planning, and competition in the construction industry. Urban, Rural and Regional Development Economics Finland García, Clara MitwirkendeR ctb |
| spellingShingle | André, Christophe Housing Price and Investment Dynamics in Finland = Prix du logement et la dynamique d'investissement en Finlande Urban, Rural and Regional Development Economics Finland |
| title | Housing Price and Investment Dynamics in Finland = Prix du logement et la dynamique d'investissement en Finlande |
| title_alt | Prix du logement et la dynamique d'investissement en Finlande |
| title_auth | Housing Price and Investment Dynamics in Finland = Prix du logement et la dynamique d'investissement en Finlande |
| title_exact_search | Housing Price and Investment Dynamics in Finland = Prix du logement et la dynamique d'investissement en Finlande |
| title_full | Housing Price and Investment Dynamics in Finland = Prix du logement et la dynamique d'investissement en Finlande Christophe, André and Clara, García |
| title_fullStr | Housing Price and Investment Dynamics in Finland = Prix du logement et la dynamique d'investissement en Finlande Christophe, André and Clara, García |
| title_full_unstemmed | Housing Price and Investment Dynamics in Finland = Prix du logement et la dynamique d'investissement en Finlande Christophe, André and Clara, García |
| title_short | Housing Price and Investment Dynamics in Finland |
| title_sort | housing price and investment dynamics in finland prix du logement et la dynamique d investissement en finlande |
| title_sub | = Prix du logement et la dynamique d'investissement en Finlande |
| topic | Urban, Rural and Regional Development Economics Finland |
| topic_facet | Urban, Rural and Regional Development Economics Finland |
| work_keys_str_mv | AT andrechristophe housingpriceandinvestmentdynamicsinfinlandprixdulogementetladynamiquedinvestissementenfinlande AT garciaclara housingpriceandinvestmentdynamicsinfinlandprixdulogementetladynamiquedinvestissementenfinlande AT andrechristophe prixdulogementetladynamiquedinvestissementenfinlande AT garciaclara prixdulogementetladynamiquedinvestissementenfinlande |