IDEAS home Printed from https://ideas.repec.org/p/bde/opaper/2013.html
   My bibliography  Save this paper

El mercado de la vivienda en España entre 2014 y 2019

Author

Listed:
  • Dirección General de Economía y Estadística

    (Banco de España)

Abstract

En este trabajo se describen los principales rasgos de la evolución del mercado de la vivienda en España durante el último período de expansión (2014-2019) y se discuten dos aspectos relacionados con su situación reciente. Por una parte, se analiza la evidencia acerca de las posibles dificultades de acceso de los hogares a la vivienda, encontrando que estas se habrían agravado durante los últimos años, especialmente para determinados colectivos, como los jóvenes y las familias con rentas bajas, sobre todo en algunas zonas, como las grandes áreas metropolitanas. Seguidamente se revisan las implicaciones que de ello se derivan desde el punto de vista de la eficiencia económica y de los retos sociales y se analizan medidas públicas que podrían considerarse para aliviar estas dificultades. La última sección ofrece una valoración de los posibles riesgos sistémicos asociados al mercado inmobiliario residencial, y se concluye que estos eran, a finales de 2019, más limitados que los que había en los años anteriores a la crisis financiera iniciada en 2008.

Suggested Citation

  • Dirección General de Economía y Estadística, 2020. "El mercado de la vivienda en España entre 2014 y 2019," Occasional Papers 2013, Banco de España.
    • Handle: RePEc:bde:opaper:2013
    as

    Download full text from publisher

    File URL: https://www.bde.es/f/webbde/SES/Secciones/Publicaciones/PublicacionesSeriadas/DocumentosOcasionales/20/Fich/do2013.pdf
    File Function: First version, May 2020
    Download Restriction: no
    File URL: https://www.bde.es/f/webbde/SES/Secciones/Publicaciones/PublicacionesSeriadas/DocumentosOcasionales/20/Files/do2013e.pdf
    File Function: Versión en inglés
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. Christian Dustmann & Bernd Fitzenberger & Markus Zimmermann, 2022. "Housing Expenditure and Income Inequality," The Economic Journal, Royal Economic Society, vol. 132(645), pages 1709-1736.
    2. Garcia-López, Miquel-Àngel & Jofre-Monseny, Jordi & Martínez-Mazza, Rodrigo & Segú, Mariona, 2020. "Do short-term rental platforms affect housing markets? Evidence from Airbnb in Barcelona," Journal of Urban Economics, Elsevier, vol. 119(C).
    3. Jorge E. Galán & Matías Lamas, 2019. "Beyond the LTV ratio: new macroprudential lessons from Spain," Working Papers 1931, Banco de España.
    4. Brindusa Anghel & Henrique Basso & Olympia Bover & José María Casado & Laura Hospido & Mario Izquierdo & Ivan A. Kataryniuk & Aitor Lacuesta & José Manuel Montero & Elena Vozmediano, 2018. "Income, consumption and wealth inequality in Spain," SERIEs: Journal of the Spanish Economic Association, Springer;Spanish Economic Association, vol. 9(4), pages 351-387, November.
    5. Nuno Martins & Ernesto Villanueva, 2006. "Does limited access to mortgage debt explain why young adults live with their parents?," Working Papers 0628, Banco de España.
    6. Dettling, Lisa J. & Hsu, Joanne W., 2018. "Returning to the nest: Debt and parental co-residence among young adults," Labour Economics, Elsevier, vol. 54(C), pages 225-236.
    7. Gibbons, Stephen & Manning, Alan, 2006. "The incidence of UK housing benefit: Evidence from the 1990s reforms," Journal of Public Economics, Elsevier, vol. 90(4-5), pages 799-822, May.
    8. Laura Álvarez & Roberto Blanco & Miguel García-Posada, 2020. "Foreign investment in the residential real estate market in Spain between 2007 and 2019," Economic Bulletin, Banco de España, issue 2/2020.
    9. Gonzalo Paz-Pardo, 2024. "Homeownership and Portfolio Choice over the Generations," American Economic Journal: Macroeconomics, American Economic Association, vol. 16(1), pages 207-237, January.
    10. Simeon Djankov & Rafael La Porta & Florencio Lopez-de-Silane & Andrei Shleifer, 2002. "Courts: the Lex Mundi Project," NBER Working Papers 8890, National Bureau of Economic Research, Inc.
    11. Horn, Keren & Merante, Mark, 2017. "Is home sharing driving up rents? Evidence from Airbnb in Boston," Journal of Housing Economics, Elsevier, vol. 38(C), pages 14-24.
    12. Jack Favilukis & Pierre Mabille & Stijn Van Nieuwerburgh, 2023. "Affordable Housing and City Welfare," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 90(1), pages 293-330.
    13. Florian Oswald, 2019. "The effect of homeownership on the option value of regional migration," Quantitative Economics, Econometric Society, vol. 10(4), pages 1453-1493, November.
    14. Mihir Desai & Dhammika Dharmapala & Monica Singhal, 2010. "Tax Incentives for Affordable Housing: The Low Income Housing Tax Credit," NBER Chapters, in: Tax Policy and the Economy, Volume 24, pages 181-205, National Bureau of Economic Research, Inc.
    15. Aparicio-Fenoll Ainhoa & Oppedisano Veruska, 2015. "Fostering Household Formation: Evidence from a Spanish Rental Subsidy," The B.E. Journal of Economic Analysis & Policy, De Gruyter, vol. 15(1), pages 53-84, January.
    16. Slacalek, Jiri & Tristani, Oreste & Violante, Giovanni L., 2020. "Household balance sheet channels of monetary policy: A back of the envelope calculation for the euro area," Journal of Economic Dynamics and Control, Elsevier, vol. 115(C).
    17. Jeff Larrimore & Jenny Schuetz, 2017. "Assessing the Severity of Rent Burden on Low-Income Families," FEDS Notes 2017-12-22, Board of Governors of the Federal Reserve System (U.S.).
    18. Cristina Barceló, 2006. "Housing tenure and labour mobility: a comparison across European countries," Working Papers 0603, Banco de España.
    19. Susin, Scott, 2002. "Rent vouchers and the price of low-income housing," Journal of Public Economics, Elsevier, vol. 83(1), pages 109-152, January.
    20. González Chapela, Jorge, 2020. "Patience goes a long way: Evidence from Spain," MPRA Paper 98711, University Library of Munich, Germany.
    21. Richard Arnott, 1995. "Time for Revisionism on Rent Control?," Journal of Economic Perspectives, American Economic Association, vol. 9(1), pages 99-120, Winter.
    22. Cooper, Daniel & Luengo-Prado, María José, 2018. "Household formation over time: Evidence from two cohorts of young adults," Journal of Housing Economics, Elsevier, vol. 41(C), pages 106-123.
    23. David López-Rodríguez & María de los Llanos Matea, 2020. "Public intervention in the rental housing market: a review of international experience," Occasional Papers 2002, Banco de España.
    24. Pablo Casas-Arce & Albert Saiz, 2010. "Owning versus Renting: Do Courts Matter?," Journal of Law and Economics, University of Chicago Press, vol. 53(1), pages 137-165, February.
    25. Cristina Barceló & Ernesto Villanueva, 2018. "The risk of job loss, household formation and housing demand: evidence from differences in severance payments," Working Papers 1849, Banco de España.
    26. Koster, Hans R.A. & van Ommeren, Jos & Volkhausen, Nicolas, 2021. "Short-term rentals and the housing market: Quasi-experimental evidence from Airbnb in Los Angeles," Journal of Urban Economics, Elsevier, vol. 124(C).
    27. Sinai, Todd & Waldfogel, Joel, 2005. "Do low-income housing subsidies increase the occupied housing stock?," Journal of Public Economics, Elsevier, vol. 89(11-12), pages 2137-2164, December.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. David López-Rodríguez & María de los Llanos Matea, 2019. "Recent developments in the rental housing market in Spain," Economic Bulletin, Banco de España, issue SEP.
    2. Christian A. L. Hilber & Olivier Schoni, 2022. "Housing policy and affordable housing," CEP Occasional Papers 56, Centre for Economic Performance, LSE.
    3. Lauriane Belloy, 2022. "Short-term rental revenues after the lockdown : An advantage for natural areas but always in dense rental spaces," Working papers of Transitions Energétiques et Environnementales (TREE) hal-03671537, HAL.
    4. Tomaso Duso & Claus Michelsen & Maximilian Schäfer & Kevin Ducbao Tran, 2021. "Airbnb and Rental Markets: Evidence from Berlin," Bristol Economics Discussion Papers 21/746, School of Economics, University of Bristol, UK.
    5. Olsen, Edgar O. & Zabel, Jeffrey E., 2015. "US Housing Policy," Handbook of Regional and Urban Economics, in: Gilles Duranton & J. V. Henderson & William C. Strange (ed.), Handbook of Regional and Urban Economics, edition 1, volume 5, chapter 0, pages 887-986, Elsevier.
    6. C. Grislain-Letrémy & C. Trevien, 2014. "The Impact of Housing Subsidies on the Rental Sector: the French Example," Documents de Travail de l'Insee - INSEE Working Papers g2014-08, Institut National de la Statistique et des Etudes Economiques.
    7. Mavropoulos, Antonios, 2021. "To rent or not to rent: A household finance perspective on Berlin's short-term rental regulation," IWH Discussion Papers 1/2021, Halle Institute for Economic Research (IWH).
    8. Duso, Tomaso & Michelsen, Claus & Schaefer, Maximilian & Tran, Kevin Ducbao, 2024. "Airbnb and rental markets: Evidence from Berlin," Regional Science and Urban Economics, Elsevier, vol. 106(C).
    9. Desai, Mihir & Dharmapala, Dhammika & Singhal, Monica, 2008. "Investable Tax Credits: The Case of the Low Income Housing Tax Credit," Working Paper Series rwp08-035, Harvard University, John F. Kennedy School of Government.
    10. Catalina Llaneza Hesse & Josep Maria Raya Vílchez, 2022. "The effect of COVID-19 on the peer-to-peer rental market," Tourism Economics, , vol. 28(1), pages 222-247, February.
    11. repec:diw:diwwpp:dp1889 is not listed on IDEAS
    12. Maximilian Schäfer & Kevin Ducbao Tran, 2020. "Airbnb, Hotels, and Localized Competition," Discussion Papers of DIW Berlin 1889, DIW Berlin, German Institute for Economic Research.
    13. Mihir Desai & Dhammika Dharmapala & Monica Singhal, 2010. "Tax Incentives for Affordable Housing: The Low Income Housing Tax Credit," NBER Chapters, in: Tax Policy and the Economy, Volume 24, pages 181-205, National Bureau of Economic Research, Inc.
    14. Corentin Trevien, 2016. "Four essays in empirical urban economics : evaluation of French regional policies [Quatre essais en économie urbaine empirique : évaluation de politiques d'aménagement du territoire]," SciencePo Working papers Main tel-03498772, HAL.
    15. Lauriane BELLOY, 2023. "Do short-term rentals impact population movements? An analysis in six french urban areas," Working Papers hal-04135401, HAL.
    16. Raya, Josep Maria & Torres-Pruñonosa, Jose, 2022. "The importance of administrative data in the evaluation of the incidence of social housing allowance programmes," Evaluation and Program Planning, Elsevier, vol. 94(C).
    17. Kevin C. Corinth, 2017. "Toward a more efficient housing safety net," AEI Economic Perspectives, American Enterprise Institute, April.
    18. Aki Kangasharju, 2010. "Housing Allowance and the Rent of Low‐income Households," Scandinavian Journal of Economics, Wiley Blackwell, vol. 112(3), pages 595-617, September.
    19. Segú, Mariona & Vignolles, Benjamin, 2018. "Taxing Vacant Dwellings: Can fiscal policy reduce vacancy?," MPRA Paper 85508, University Library of Munich, Germany.
    20. Maruška Vizek & Tajana Barbić & Anita Čeh Časni, 2024. "The impact of the tourism accommodation composition on housing prices: The case of Croatia," Tourism Economics, , vol. 30(1), pages 267-274, February.
    21. Garz, Marcel & Schneider, Andrea, 2023. "Data sharing and tax enforcement: Evidence from short-term rentals in Denmark," Regional Science and Urban Economics, Elsevier, vol. 101(C).

    More about this item

    Keywords

    mercado de la vivienda; mercado hipotecario; accesibilidad a la vivienda; riesgos sistémicos; intervención pública;
    All these keywords.

    JEL classification:

    • R30 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Real Estate Markets, Spatial Production Analysis, and Firm Location - - - General
    • R31 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Real Estate Markets, Spatial Production Analysis, and Firm Location - - - Housing Supply and Markets
    • R38 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Real Estate Markets, Spatial Production Analysis, and Firm Location - - - Government Policy
    • G21 - Financial Economics - - Financial Institutions and Services - - - Banks; Other Depository Institutions; Micro Finance Institutions; Mortgages
    • G51 - Financial Economics - - Household Finance - - - Household Savings, Borrowing, Debt, and Wealth

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:bde:opaper:2013. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Ángel Rodríguez. Electronic Dissemination of Information Unit. Research Department. Banco de España (email available below). General contact details of provider: https://edirc.repec.org/data/bdegves.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.