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Price determinants of newly built dwelling in Serbia

Author

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  • Ivan Nikoliæ

    (National Bank of Serbia)

Abstract

This paper analyses the determnants of newly built dwelling prices in Serbia in a panel of 24 cities over the period 2011-2014. Results suggest that dwelling prices primarily tend to rise with populations growth and real total net wages as a proxy of household incomes, while declines in effective interest rate on housing are associated with higher dwelling prices. Additional explanatory variables, such as the level of development of observed cities, geographical distance from the capital, or real GDP dinamics in the country, even though the correct sign, didn't have statisticaly significance influence on the dependant variable.

Suggested Citation

  • Ivan Nikoliæ, 2015. "Price determinants of newly built dwelling in Serbia," Working papers 29, National Bank of Serbia.
    • Handle: RePEc:nsb:wppnbs:29
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    File URL: https://www.nbs.rs/documents/publikacije/strucni-radovi/2015_29_IN.pdf
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    References listed on IDEAS

    as
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    6. Reinhart, Carmen & Rogoff, Kenneth, 2009. "This Time It’s Different: Eight Centuries of Financial Folly-Chapter 1," MPRA Paper 17452, University Library of Munich, Germany.
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    8. Petr Zemcik & Vyacheslav Mikhed, 2009. "Do House Prices Reflect Fundamentals? Aggregate and Panel Data Evidence," ERES eres2009_275, European Real Estate Society (ERES).
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    Full references (including those not matched with items on IDEAS)

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