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Spanish housing markets during the first phase of the rural-urban transition process

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Abstract

This paper discusses how Spain’s housing markets reacted to the far-reaching changes that affected the demand for dwellings during the first phase of the rural-urban transition process. To this end, we construct a new hedonic index of real housing prices and assemble a cross-regional panel dataset of price fundamentals. The results of our econometric analysis suggest that housing markets did not face supply constraints, responded swiftly to the growing demand for accommodation and were efficient. In light of this new evidence, we conclude that housing markets were not a burden for Spanish economic development and that Spain’s institutional and regulatory frameworks were suitable for the housing needs at the time.

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  • Rosés, Joan R., 2011. "Spanish housing markets during the first phase of the rural-urban transition process," IFCS - Working Papers in Economic History.WH wp11-08, Universidad Carlos III de Madrid. Instituto Figuerola.
    • Handle: RePEc:cte:whrepe:wp11-08
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    More about this item

    Keywords

    Regulation in housing markets;

    JEL classification:

    • R30 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Real Estate Markets, Spatial Production Analysis, and Firm Location - - - General
    • N94 - Economic History - - Regional and Urban History - - - Europe: 1913-
    • N93 - Economic History - - Regional and Urban History - - - Europe: Pre-1913

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