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Environmental transitions effect of renewable energy and fintech markets on Europe's real estate stock market

Author

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  • Shah, Waheed Ullah
  • Younis, Ijaz
  • Missaoui, Ibtissem
  • Liu, Xiyu

Abstract

This study explores volatility and the environmental transition effect of renewable energy and fintech markets on the European real estate market during the COVID-19 pandemic and the Russia-Ukraine conflict using the TVP-VAR connectedness approach. Overall, our study found strong connectedness between renewable energy, fintech, and European real estate stock markets in both crises from January 2019 to January 2024. During COVID-19, all renewable energy and European real estate markets are key net volatility spillover receivers; whereas fintech and other real estate markets are net spillover transmitters. In the Russia-Ukraine conflict, fintech, renewable energy, and the European real estate marketsare the prime net risk spillover receivers; whereas NEX and other real estate markets are net spillover transmitters. However, market returns further decreased in the Russia-Ukraine conflict compared to COVID-19. Our study provides significant and insightful policy implications for financial, digital, green, commercial, and residential real estate, and related industry stakeholders in Europe.

Suggested Citation

  • Shah, Waheed Ullah & Younis, Ijaz & Missaoui, Ibtissem & Liu, Xiyu, 2025. "Environmental transitions effect of renewable energy and fintech markets on Europe's real estate stock market," Renewable Energy, Elsevier, vol. 243(C).
    • Handle: RePEc:eee:renene:v:243:y:2025:i:c:s0960148125002654
    DOI: 10.1016/j.renene.2025.122603
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