IDEAS home Printed from https://ideas.repec.org/p/lre/wpaper/lares-2010-artigo-503-000-dr.html
   My bibliography  Save this paper

Housing market reactions in presence of retirees’ migration

Author

Listed:
  • Paloma Taltavull de La Paz
  • Karen M. Gibler

Abstract

Retiree migration in Europe has been an increasing phenomenon during the last fifteen years as people from Northern countries move to the South. Spain has been one of the primary destinations for this group where they tend to concentrate in some coastal and very warm areas such as Alicante, the Islands and the South. The larger groups arriving to Alicante are British and German. Their flow of arrivals coincided with dramatic price and construction growth. This paper explores the role these retiree migrants may have played in the expansion of the Alicante housing market. We specifically investigate their influence on housing prices and the differential impact related to nationality. Using time series analysis, the twe adjust a housing demand function by introducing international economic variables in order to capture the impact of relative monetary and income conditions in Germany and UK on the Alicante housing market. Results seem to suggest that the strong retiree migration flow could have created a shock in the Alicante housing market with different effects depending on the immigrants’ nationality.

Suggested Citation

  • Paloma Taltavull de La Paz & Karen M. Gibler, 2010. "Housing market reactions in presence of retirees’ migration," LARES lares-2010-artigo-503-000, Latin American Real Estate Society (LARES).
    • Handle: RePEc:lre:wpaper:lares-2010-artigo-503-000-dr
    as

    Download full text from publisher

    File URL: https://lares.architexturez.net/doc/lares-2010-artigo-503-000-dr
    Download Restriction: no
    File URL: https://lares.architexturez.net/system/files/LARES_2010_503-000-DR.pdf
    Download Restriction: no
    ---><---

    Other versions of this item:

    References listed on IDEAS

    as
    1. Arcelus, Francisco & Meltzer, Allan H, 1973. "The Markets for Housing and Housing Services," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 5(1), pages 78-99, Part I Fe.
    2. Eaton, Jonathan & Eckstein, Zvi, 1997. "Cities and growth: Theory and evidence from France and Japan," Regional Science and Urban Economics, Elsevier, vol. 27(4-5), pages 443-474, August.
    3. Reeder, Richard J., 1998. "Retiree-Attraction Policies for Rural Development," Agricultural Information Bulletins 33667, United States Department of Agriculture, Economic Research Service.
    4. Coulson, N. Edward, 1999. "Sectoral sources of metropolitan growth," Regional Science and Urban Economics, Elsevier, vol. 29(6), pages 723-743, November.
    5. Arcelus, Francisco & Meltzer, Allan H, 1973. "The Markets for Housing and Housing Services: Reply," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 5(4), pages 973-978, November.
    6. Smith, Lawrence B & Rosen, Kenneth T & Fallis, George, 1988. "Recent Developments in Economic Models of Housing Markets," Journal of Economic Literature, American Economic Association, vol. 26(1), pages 29-64, March.
    7. Hanushek, Eric A. & Quigley, John M., 1979. "The dynamics of the housing market: A stock adjustment model of housing consumption," Journal of Urban Economics, Elsevier, vol. 6(1), pages 90-111, January.
    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. Hans van Fulpen, 1988. "An Analysis of the Housing Market in the Netherlands," Urban Studies, Urban Studies Journal Limited, vol. 25(3), pages 190-203, June.
    2. Duebel, Hans-Joachim & Brzeski, W. Jan & Hamilton, Ellen, 2006. "Rental choice and housing policy realignment in transition : post-privatization challenges in the Europe and Central Asia region," Policy Research Working Paper Series 3884, The World Bank.
    3. Timothy Q. Cook, 1974. "The residential mortgage market in recent years," Economic Review, Federal Reserve Bank of Richmond, vol. 60(Sep), pages 3-18.
    4. H.-J. Büttler, 1976. "The Markets for Land, Housing, and Housing Services: An Empirical Study over Time," Swiss Journal of Economics and Statistics (SJES), Swiss Society of Economics and Statistics (SSES), vol. 112(IV), pages 619-637, December.
    5. Andrew J Fieldhouse & Karel Mertens & Morten O Ravn, 2018. "The Macroeconomic Effects of Government Asset Purchases: Evidence from Postwar U.S. Housing Credit Policy," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 133(3), pages 1503-1560.
    6. Sergio Clavijo & Michel Janna & Santiago Munoz, 2005. "The Housing Market in Colombia: Socioeconomic and Financial Determinants," Research Department Publications 4389, Inter-American Development Bank, Research Department.
    7. Taipalus, Katja, 2006. "A global house price pubble? Evaluation based on a new rent-price approach," Bank of Finland Research Discussion Papers 29/2006, Bank of Finland.
    8. Edward J. Kane, 1980. "Accelerating Inflation and the Distribution of Household Savings Incentives," NBER Working Papers 0470, National Bureau of Economic Research, Inc.
    9. Schwarz, Anita M., 1992. "How effective are directed credit policies in the United States? A literature survey," Policy Research Working Paper Series 1019, The World Bank.
    10. Ebrahim, M. Shahid & Mathur, Ike, 2007. "Pricing home mortgages and bank collateral: A rational expectations approach," Journal of Economic Dynamics and Control, Elsevier, vol. 31(4), pages 1217-1244, April.
    11. Taltavull de La Paz, Paloma, 2000. "Determinant Of Housing Prices In Spanish'S Urban Areas," ERSA conference papers ersa00p258, European Regional Science Association.
    12. repec:zbw:bofrdp:2006_029 is not listed on IDEAS
    13. Malpezzi, Stephen & Maclennan, Duncan, 2001. "The Long-Run Price Elasticity of Supply of New Residential Construction in the United States and the United Kingdom," Journal of Housing Economics, Elsevier, vol. 10(3), pages 278-306, September.
    14. Taipalus, Katja, 2006. "A global house price pubble? : evaluation based on a new rent-price approach," Research Discussion Papers 29/2006, Bank of Finland.
    15. Philip Arestis & Ana Rosa González-Martínez, 2015. "Residential Construction Activity in OECD Economies," Manchester School, University of Manchester, vol. 83(4), pages 451-474, July.
    16. Adrian W. Throop, 1986. "Financial deregulation, interest rates, and the housing cycle," Economic Review, Federal Reserve Bank of San Francisco, issue Sum, pages 63-78.
    17. Daniel Fernández-Kranz & Mark Hon, 2006. "A Cross-Section Analysis of the Income Elasticity of Housing Demand in Spain: Is There a Real Estate Bubble?," The Journal of Real Estate Finance and Economics, Springer, vol. 32(4), pages 449-470, June.
    18. Sergio Clavijo & Michel Janna & Santiago Munoz, 2005. "El mercado colombiano de la vivienda: factores socioeconómicos y financieros determinantes," Research Department Publications 4390, Inter-American Development Bank, Research Department.
    19. Klein, Alexander & Leunig, Tim, 2013. "Gibrat’s Law and the British Industrial Revolution," CAGE Online Working Paper Series 146, Competitive Advantage in the Global Economy (CAGE).
    20. T. Gries & R. Grundmann & I. Palnau & M. Redlin, 2017. "Innovations, growth and participation in advanced economies - a review of major concepts and findings," International Economics and Economic Policy, Springer, vol. 14(2), pages 293-351, April.
    21. Wouter Vermeulen & J. van Ommeren, 2006. "Compensation of regional unemployment in housing markets," CPB Discussion Paper 57, CPB Netherlands Bureau for Economic Policy Analysis.

    More about this item

    Keywords

    economic effects; housing market; Housing Prices; retirement;
    All these keywords.

    JEL classification:

    • R3 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Real Estate Markets, Spatial Production Analysis, and Firm Location

    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:lre:wpaper:lares-2010-artigo-503-000-dr. 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: Architexturez Imprints (email available below). General contact details of provider: https://edirc.repec.org/data/laresea.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.