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Title: Housing and setting constraints: the portuguese evidence
Authors: Santos, António Duarte
Castro, Hélio
Keywords: house prices
housing market
housing expenses
price fluctuation
Issue Date: Sep-2022
Publisher: MDPI
Citation: Santos, A.D.; Castro, H. Housing and Setting Constraints: The Portuguese Evidence. Sustainability 2022, 14, 11720. 10.3390/su141811720
Abstract: In the last few decades, Portugal has witnessed an extraordinary quantitative and qualitative transformation in housing provision. The pace of housing construction was so extensive that the contemporary real estate market is currently characterized by an excessive supply, vis-à-vis the resident population. In this study, we discuss the impact of the financial process on the housing sector in comparison with tenancy. We consider transaction prices of the housing assignments, either through acquisition or through tenancy. The recent shock resulting from the pandemic situation did not slow down house prices but caused a slight drop in rents. The model used proposes to analyze the fluctuations in prices and rents in the face of external shocks. In the residential market, the estimation is complex due to the many heterogeneous attributes of residential assets. Non-fluctuating variables, such as size, location, and external demand for homes, explain a large part of the variation in price levels included in the model.
Peer Reviewed: yes
metadata.dc.identifier.doi: 10.3390/su141811720
Appears in Collections:DCEE - Artigos/Papers

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