The EU member states of Central, Eastern and Southeastern Europe (CESEE) experienced strong house price growth, on average, in the second and third quarter of 2025. A key contributing factor was the stable macroeconomic environment, particularly the strong performance of the labor market, which...

This paper examines the evolution of the Portuguese residential real estate market during the first twenty-five years of the 21st century, focusing on the short-run determinants of housing transaction values. Using quarterly data from 2000 to 2025, the study applies an econometric time-series...

This study investigates the determinants of turnover intention among real estate sales professionals in Lebanon and the United Arab Emirates (UAE), two markets that represent contrasting economic realities within the MENA region. Drawing on Herzberg's Two-Factor Theory, Vroom's Expectancy...

We study a German policy intervention that shifted the statutory incidence of real estate agent commissions from buyers to sellers. Liability-side equivalence predicts no effect on economic incidence as sellers are expected to pass on the additional burden through higher prices. We use real...

This report investigates how the Irish housing transaction system influences buyer and seller behaviour. Drawing on behavioural science, it explores how cognitive biases, including auction fever, loss aversion and ambiguity aversion, may be exacerbated by features of the Irish market. We...

This paper explores ways in which borrower-based measures (BBMs) could be applied to commercial real estate (CRE) lending, focusing on suitable metrics and scope. BBMs have already proven to be effective in mitigating credit risks in residential real estate lending by curbing excessive credit...

We document that increases in property insurance premiums reduce mortgage originations. The effect is strongest for the rate refinancing and cash-out refinancing segments. We show that denials associated with increased premiums are significantly more likely attributed to high debt-to-income...

This paper investigates the presence and timing of explosive price dynamics in major listed real estate markets over the period 04 January 2011 - 11 February 2026. The analysis focuses on four benchmark indices: the FTSE EPRA Nareit Developed Europe Index, the FTSE Nareit All Equity REITs Index...

Rising geopolitical tensions and fluctuating financial market conditions have increased volatility and negatively impacted property returns across BRICS countries, yet this critical area remains underexplored despite its significant implications for policy reform and investor participation. To...

We analyze macroeconomic determinants of residential building permits in Germany, France, the Netherlands, Belgium, and Austria using monthly data from 2000 to 2024, with selected variables interpolated from quarterly sources. Employing ARDL cointegration methods with bootstrap inference across...

Forecasting returns in Real Estate Investment Trust (REIT) markets remains challenging because REIT performance is shaped by nonlinear and time-varying interactions with macro-financial conditions. This study evaluates the forecasting performance of Long Short-Term Memory (LSTM) neural networks...

This paper studies how dynamic changes in the search environment affect consumer search and purchase behavior. We develop a dynamic model that incorporates a non-stationary search environment and propose a feasible estimation procedure to estimate its parameters. We apply our model and...

The Chilean real estate sector has recently undergone adjustments which have increased the risks for the financial sector, but the system remains overall resilient. In the baseline, the real estate market is expected to modestly recover, and several factors mitigate credit risk. The buffers in...

The outbreak of the Covid-19 epidemic has caused some disruption to the real estate market in Vietnam. To survive the Covid-19 pandemic, real estate businesses have rushed to find alternative solutions, proactively approach support packages, and change business strategies. Moreover, the real...

Institutional investors, such as investment funds, are playing an increasingly important role in residential real estate markets. This raises the possibility that their actions might drive aggregate market outcomes and may change how and which macrofinancial shocks transmit to house prices. In a...

How do different monetary policy tools influence residential housing markets, and how do these effects vary between owner-occupied and rental segments? To answer this question, we assemble a new monthly regional dataset from 35 million real estate listings over the period 2007- 2023 and exploit...

This Technical Report documents the construction and coverage of the IWH European Real Estate Index (EREI). Since 2018, we have used machine-learning methods to collect monthly listings of residential real estate available for sale or rent in up to 20 European countries. The Technical Report...

This study investigates the role of housing prices in the Moroccan economy and their response to monetary policy shocks. Using a Structural Vector Autoregression (SVAR) model, we explore the transmission mechanisms of monetary policy through various channels, including interest rates, credit...

This paper applies behavioural economics to Ireland's housing transaction system, identifying how systemic features may contribute to biased decision making and price volatility. It draws on international comparisons and highlights eight cognitive biases that affect buyers and sellers including...

This study examines the impact of debt policy, firm size, and liquidity on firm value in property and real estate companies listed on the Indonesia Stock Exchange (IDX) from 2022 to 2024. Using a quantitative approach, this research employed multiple linear regression analysis supported by...

The causal relationship between living in a peripheral area and real estate investment decisions is currently unexplored in empirical literature. Using survey data on 2711 Italian respondents collected between 2022 and 2023, we show that living in a peripheral area has a negative impact on the...

Research background: Access to official information on the real estate market, backed by the authority of public institutions, in particular on average housing prices, is an important element of the real estate market regime. In Poland, such information is published in various spatial, temporal...