We empirically document that the effectiveness of the German rent control introduced in 2015 in achieving rental housing affordability is limited. Exploring the reasons for this limited effectiveness we focus on the impact of the rent control on the yield on rental housing investments proxied by...

This paper examines the short-run immigration effects on prices for owner-occupied housing and rents in Switzerland, exploiting regional variation at the level of 106 local labour markets ("Mobilité Spatiale" regions) and 26 cantons, respectively. We propose two empirical strategies that...

Over the course of the 20th century, governments have frequently used rent control to keep rents affordable, especially in times of crisis when housing is scarce. Existing research shows that rent control has undesirable side effects, such as overall societal welfare losses, market...

This research considers the international evidence on the functioning and deployment of measures similar to the Irish "Rent Pressure Zone" (RPZ) framework introduced in late 2016. It also considers how these measures have worked in Ireland in the period from their inception until prior to the...

Using household-level data collected from three provinces in China, this paper investigates the links between land rentals conducted by acquaintances and land fragmentation. The econometric results indicate that the land rentals between acquaintances and those between non-acquaintances have...

Since 1993, the Ethiopian government has been using the urban land leasing system to monetize the increase in land value created due to factors other than private investment. Thus, this paper aims to explore and understand whether Bahir Dar city is leveraging the urban land lease system as a...

Assessing rent discounts implied by rent regulation is challenging because the counterfactual rents of regulated units in the unregulated market are not observed. We estimate these counterfactual rents and predict the quality-adjusted rent discount for each rent-stabilized unit in New York City...

This study investigates the effects of short-lived rent control regulations introduced in Catalonia in September 2020 and revoked in March 2022. Using the microdata of the largest Spanish housing advertisement portal idealista between January 2017 and May 2022, we analyze the dynamics of prices...

This paper studies how local land-use regulations and community opposition affect the trade-offs to building single-family, multifamily, and affordable housing and how their effects on rents differ from their effects on house prices. Using lot-level zoning regulations and a boundary...

The study investigated the effect of residential house rent on urban household poverty status in Ethiopia with evidence from Wolkite town. By using structured questionnaires, primary data was collected from 248 household heads living in rental housing. In addition, a key-informant interview was...

This memo provides two insights on the evolution of market concentration in the Danish rental market and its relation to rental prices. First, we show that rental market concentration not only increased between 2010 and 2020, but also varied significantly across Danish municipalities. Second, we...

This study provides evidence of the causal impact of immigration on German house prices, flat prices, and flat rents using an extensive dataset covering 382 administrative districts over the period 2004-2020. Employing a panel-data approach and a manually constructed shift-share instrument, we...

We estimate the transmission of the pandemic shock in 2020 to prices in the residential and commercial real estate market by causal machine learning, using new granular data at the municipal level for Germany. We exploit differences in the incidence of Covid infections or short-time work at the...

We estimate the causal impact of a 2018 zoning reform that banned new short-term rental registries in some parts of Lisbon. The short-term rental licence expires when the house is sold, hence the ban removes the option value of short-term renting a property. We rely on two administrative data...

Real estate markets are pivotal to financial stability given their dual role as the underlying asset of crucial financial products in financial systems, such as mortgage loans and asset-backed securities, and the primary source of household wealth alike. As such, they also play traditionally a...

The urban housing situation in Ethiopia is a wide gap between housing demand and actual supply in all urban centers of the country. Generally, the study aims to examine the affordability of residential house rent market value. Specifically, the study aims to assess the characteristics of rental...

In this paper, we examine the impact of housing rent increase on migrants' household consumption and social integration. Using the China Migrants Dynamic Survey 2011-2014, we find that rent increase significantly reduces migrants’ non-housing consumption and leads to deteriorating social...

In 2020, Berlin introduced a rigorous rent-control policy responding to soaring rents by setting a cap on rental prices: the Mietendeckel (rent freeze). The policy was revoked one year later by the German Constitutional Court. Although successful in reducing rents during its duration, the...

Over the last decade, German housing prices have increased unprecedentedly. Drawing on quality-adjusted housing price data at the district level, we document large and increasing regional disparities: Growth rates were higher in 1) the largest seven cities, 2) districts located in the south, and...

Over the last decade, German housing prices have increased unprecedentedly. Drawing on quality-adjusted housing price data at the district level, we document large and increasing regional disparities: growth rates were higher in 1) the largest seven cities, 2) districts located in the south, and...

Rent-control advocates argue that its strongest feature is offering tenants strong protections from economic displacement. Nonetheless, rent control may have negative effects on tenants, as previous research has shown that these tenants have longer commutes and higher unemployment rates because...