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(Article of periodic en Anglais - 2014)

Document title

Is urban land price adjustment more sluggish than housing price adjustment? empirical evidence

Authors(s) and Affiliation(s)

OIKARINEN E. (1) ;
(1) School of Economics, Turku, FINLANDE

Abstract

This article hypothesises that, due to factors such as thin trading and lack of publicly available data on transactions in the Helsinki Metropolitan Area land market, urban land prices react more sluggishly to shocks in market fundamentals than housing prices do. The results suggest that new information regarding the market fundamentals is more rapidly reflected in housing prices than in land prices. Nevertheless, it is the housing price level, instead of land prices, that adjusts towards a cointegrating long-run equilibrium between housing prices, land prices and construction costs

Source

Article of periodic

published at : Urban studies / ISSN 0042-0980

Editor : Longman Group, Harlow - ROYAUME-UNI (1964)

Millesime : 2014, vol. 51, no8 [pp. 1686-1706]

Bibliographic references : 1 p.

Collation : 4 fig., 3 tabl.

Language

Anglais

Digital Object Identifier

Go to electronic document thanks to its DOI : doi:10.1177/0042098013497409

Tous droits réservés © Prodig - Bibliographie Géographique Internationale (BGI), 2014
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