High dwelling vacancy rate and high prices of housing in Malta: A mediterranean phenomenon

Current data from South European countries, especially Malta, indicates the existence of some contradictory forces in the housing market that defy the law of supply and demand and require explanation. In a ‘normal’ housing market, it can be expected that a high dwelling vacancy rate would help keep down the price of housing. In Malta, however,...

House Price, House Quality and Economic Growth

The literature on housing markets suggest that periods of economic growth are characterised by a demand for better housing quality and increasing prices. The basic principles of the theory are that the short-run price fluctuations occur due to market imperfection, while over the long term, causality with such fundamentals as income will recover....

Strategic urban projects in Amsterdam and New York: Incomplete contracts and good faith in different legal systems

Contracts between local government and private investment agencies play an important role in strategic urban projects. Real estate cycles provide only a narrow window of opportunity within which to draft such contracts. A legal system should therefore not impede the possibility of reaching an agreement quickly; instead, it should facilitate...

Dutch house price fundamentals

This paper discusses house price developments in the Netherlands, specifically focussing on the question whether current house prices in the Dutch owner-occupied market are likely to decrease. We analyse three aspects of the question based on a literature review: (1) whether there is a house price bubble ready to burst; (2) whether house prices...