Causality in the Polish Housing Market: Evidence from Biggest Cities
- 31 May 2018
- journal article
- Published by Masaryk University Press in Financial Assets and Investing
- Vol. 9 (1), 5-20
- https://doi.org/10.5817/fai2018-1-1
Abstract
The aim of the paper is to examine the causal relationship between the real property prices in biggest Polish cities within VAR model framework. Both offer and transactional prices are used. Existing stock market, as well as primary market are analysed. The data are quarterly and taken from 17 biggest Polish cities. The analysed period is 2006-2015. Both VAR and VECM approaches were applied. Their limitations and possible predictions were discussed. A significant interaction between various regional real estate markets in Poland has been observed. However, the leading role of the capital city could not be confirmed by the methodology used.Keywords
This publication has 29 references indexed in Scilit:
- Similarities in Time-Series of Housing Prices on Local Markets in PolandReal Estate Management and Valuation, 2014
- Property prices and regional labor markets in PolandSingidunum Journal of Applied Sciences, 2014
- Catastrophe Theory in Explaining Price Dynamics on the Real Estate MarketReal Estate Management and Valuation, 2013
- Modeling the Real Estate Prices in Olsztyn under Instability ConditionsFolia Oeconomica Stetinensia, 2012
- Introductory Econometrics for FinancePublished by Cambridge University Press (CUP) ,2008
- Regional house price behaviour in the UK: application of a joint testing procedurePhysica A: Statistical Mechanics and its Applications, 2005
- Detecting long‐run relationships in regional house prices in the UKInternational Review of Applied Economics, 2005
- Modelling Regional House Prices in the UKScottish Journal of Political Economy, 1997
- Testing for Convergence between UK Regional House PricesRegional Studies, 1995
- Seasonality and Cointegration of Regional House Prices in the UKUrban Studies, 1994