The Effect of Immigration on the German Housing Market
This study provides evidence of the causal impact of immigration on housing prices and rents using an extensive dataset from Germany that covers 382 administrative districts over the period 2004−2020. Employing a panel-data approach and a manually constructed Bartik instrument, we show that internat...
保存先:
出版年: | MAGKS - Joint Discussion Paper Series in Economics (Band 38-2022) |
---|---|
主要な著者: | , , |
フォーマット: | 論文 |
言語: | 英語 |
出版事項: |
Philipps-Universität Marburg
2022
|
主題: | |
オンライン・アクセス: | PDFフルテキスト |
タグ: |
タグ追加
タグなし, このレコードへの初めてのタグを付けませんか!
|
要約: | This study provides evidence of the causal impact of immigration on housing prices and rents using an extensive dataset from Germany that covers 382 administrative districts over the period 2004−2020. Employing a panel-data approach and a manually constructed Bartik instrument, we show that international migration has a significantly positive short-term effect on flat prices and rents. House prices are not significantly affected. We estimate that an increase in international migration of 1% of the initial district population causes a hike in flat prices of up to 3% as well as a hike in flat rents of about 1%. The increase in flat prices is more than twice as high as this at the lower end of the market, whereas the flat rental market demonstrates a more linear response. We also discover that immigration’s impact on flat prices and rents does not significantly differ across rural and urban areas within the country. . |
---|---|
物理的記述: | 42 Seiten |
ISSN: | 1867-3678 |
DOI: | 10.17192/es2024.0745 |