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Titel
Border effects in house prices / Martin Micheli ; Jan Rouwendal ; Jasper Dekkers
VerfasserMicheli, Martin In der Gemeinsamen Normdatei der DNB nachschlagen ; Rouwendal, Jan In der Gemeinsamen Normdatei der DNB nachschlagen ; Dekkers, Jasper
ErschienenBochum : RWI, 2014
Umfang35 S. : graph. Darst., Kt.
SerieRuhr economic papers ; 511
SchlagwörterDeutschland In Wikipedia suchen nach Deutschland / Niederlande In Wikipedia suchen nach Niederlande / Immobilienmarkt In Wikipedia suchen nach Immobilienmarkt / Grenzgebiet In Wikipedia suchen nach Grenzgebiet / Preisentwicklung In Wikipedia suchen nach Preisentwicklung / Online-Publikation In Wikipedia suchen nach Online-Publikation
URNurn:nbn:de:hbz:6:2-42935 Persistent Identifier (URN)
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Border effects in house prices [0.44 mb]
Zusammenfassung

We estimate the effect of the Dutch-German border on house prices. In the last 40 years the development of house prices in the Netherlands and Germany has been substantially different. While the Netherlands have been hit by two real estate cycles, prices in Germany have been extraordinary stable. We develop a model for studying house prices and the impact of the border. Then we study the development of Dutch house prices close to the German border in the period 1985-2013. Next, combining German and Dutch real estate datasets, we study the jump in the housing price occurring at the border. Using different estimation strategies, we find that ask prices of comparable housing drop by about 16% when one crosses the Dutch-German border. Given that price discounts from the last observed asking price are substantially larger in Germany, we interpret our findings as indicating the willingness of Dutch households to pay up to 26% higher house prices to live among the Dutch.

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