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Do house prices ride the wave of immigration?

Author

Listed:
  • Larkin, Matthew P.
  • Askarov, Zohid
  • Doucouliagos, Hristos
  • Dubelaar, Chris
  • Klona, Maria
  • Newton, Joshua
  • Stanley, T.D.
  • Vocino, Andrea

Abstract

The sharp rise in international migration is a pressing social and economic issue, as seen in the recent global trend towards nationalism. One major concern is the impact of immigration on housing. We assemble a comprehensive database of 474 estimates of immigration's impact on house prices in 14 destination countries and find that immigration increases house prices, in the aggregate. The effect of immigration is larger at the province (state) level as it is at the city level. However, using data from the World Values Survey, we also show that attitudes to immigrants moderate this effect. In countries less welcoming to immigrants, house price increases are more limited.

Suggested Citation

  • Larkin, Matthew P. & Askarov, Zohid & Doucouliagos, Hristos & Dubelaar, Chris & Klona, Maria & Newton, Joshua & Stanley, T.D. & Vocino, Andrea, 2019. "Do house prices ride the wave of immigration?," Journal of Housing Economics, Elsevier, vol. 46(C).
    • Handle: RePEc:eee:jhouse:v:46:y:2019:i:c:s1051137718302481
    DOI: 10.1016/j.jhe.2019.04.002
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    References listed on IDEAS

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    Cited by:

    1. Sanchis-Guarner, Rosa, 2023. "Decomposing the impact of immigration on house prices," Regional Science and Urban Economics, Elsevier, vol. 100(C).
    2. Lokman Gunduz & Ismail H. Genc & Ahmet Faruk Aysan, 2022. "Buying Citizenship: A Boon to District-Level House Prices in Istanbul," Housing Policy Debate, Taylor & Francis Journals, vol. 32(4-5), pages 697-712, July.
    3. Camille Dumeignil, 2022. "The Impact of Cross-border Labor Mobility on Real Estate Price Trends: A Natural Experiment," International Regional Science Review, , vol. 45(1), pages 108-132, January.
    4. Maximiliano Alvarez & Vicente Royuela, 2022. "The effect of labor‐market differentials on interregional migration in Spain: A meta‐regression analysis," Journal of Regional Science, Wiley Blackwell, vol. 62(4), pages 913-937, September.
    5. Chong Fennee, 2020. "Housing Price, Mortgage Interest Rate and Immigration," Real Estate Management and Valuation, Sciendo, vol. 28(3), pages 36-44, September.

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    More about this item

    Keywords

    Immigration; House prices; Attitudes; Meta-regression;
    All these keywords.

    JEL classification:

    • F22 - International Economics - - International Factor Movements and International Business - - - International Migration
    • R31 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Real Estate Markets, Spatial Production Analysis, and Firm Location - - - Housing Supply and Markets

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