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Economic fundamentals and house prices in Namibia: comparative evidence from real and interpolated data

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  • Benjamin Kwakye
  • Tze-Haw Chan

Abstract

Purpose - The primary aim of this paper is to concurrently use the data types to enhance econometric analysis in the housing market in developing countries, particularly Namibia. Design/methodology/approach - Scholarly discussions on econometric analysis in the housing market in sub-Saharan Africa suggest that the inadequacy of time series data has impeded studies of such nature in the region. Hence, this paper aims to comparatively analyse the impact of economic fundamentals on house prices in Namibia using real and interpolated data from 1990 to 2021 supported by the ARDL model. Findings - It was discovered that in all the three types of data house prices were affected by fundamentals except real GDP in the long term. It was also noted that there were not much significant variations between the real data and the interpolated data frequencies. However, the results of the annual data and the semi-annual interpolated data were more analogously comparable to the quarterly interpolated data Practical implications - It is suggested that the adoption of interpolated data frequency type should be based on the statistical significance of the result. In addition, the need to monitor the nexus of the housing market and fundamentals is necessary for stable and sustainable housing market for enhanced policy direction and prudent property investment decision. Originality/value - The study pioneer to concurrently use the data types to enhance econometric analysis in the housing market in developing countries.

Suggested Citation

  • Benjamin Kwakye & Tze-Haw Chan, 2024. "Economic fundamentals and house prices in Namibia: comparative evidence from real and interpolated data," International Journal of Housing Markets and Analysis, Emerald Group Publishing Limited, vol. 18(2), pages 503-517, January.
  • Handle: RePEc:eme:ijhmap:ijhma-10-2023-0133
    DOI: 10.1108/IJHMA-10-2023-0133
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