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Rentabilidad de la inversión en vivienda, apalancamiento y especulación (1996-2008)
[Returns on housing investment,leverage and speculation (1996-2008)]

Author

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  • Fuentes Castro, Daniel

Abstract

To understand the formation and extent of the speculative tsunami that sweeps the coast of the Spanish economy since the end of 2007, it is necessary to analyze the profitability of property sales in the past decade. This article analyzes economic and financial profitability, and the multiplier effect of leverage, in the Spanish housing market. We also deal with the conditions under which homeownership is more profitable than renting. The article distinguish, among other types of investors, those that buy for residential purposes and those speculating on housing inflation.

Suggested Citation

  • Fuentes Castro, Daniel, 2009. "Rentabilidad de la inversión en vivienda, apalancamiento y especulación (1996-2008) [Returns on housing investment,leverage and speculation (1996-2008)]," MPRA Paper 51607, University Library of Munich, Germany.
    • Handle: RePEc:pra:mprapa:51607
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    File URL: https://mpra.ub.uni-muenchen.de/51607/1/MPRA_paper_51607.pdf
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    References listed on IDEAS

    as
    1. Fuentes Castro, Daniel, 2009. "Una nota sobre el exceso de oferta de viviendas y la duración del ajuste del sector [A note on housing supply excess and the duration of the sector adjustment]," MPRA Paper 51609, University Library of Munich, Germany.
    Full references (including those not matched with items on IDEAS)

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    1. Fuentes Castro, Daniel, 2010. "Una nota sobre la relevancia del sistema de amortización en el mercado hipotecario español entre 1998 y 2008 [A note of the importance of depreciation systems in the Spanish mortgage market between," MPRA Paper 51613, University Library of Munich, Germany.
    2. Fuentes Castro, Daniel, 2010. "Exceso de oferta de viviendas entre 1998 y 2008: una estimación provincial a partir de variables demográficas [Oversupply of housing between 1998 and 2008: a regional estimate from demographic vari," MPRA Paper 51826, University Library of Munich, Germany.

    More about this item

    Keywords

    Compraventa inmobiliaria; Rentabilidad vivienda; Multiplicador; Apalancamiento; Alquiler; Compra; Inversión; Especulación;
    All these keywords.

    JEL classification:

    • D80 - Microeconomics - - Information, Knowledge, and Uncertainty - - - General
    • G1 - Financial Economics - - General Financial Markets
    • R21 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Household Analysis - - - Housing Demand
    • 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

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