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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]

Author

Listed:
  • Fuentes Castro, Daniel

Abstract

Housing construction has been fueled in recent years by a speculative process that has ended up generating an extraordinary oversupply. The aim of this study is to quantify the gap between supply and demand for housing in the Spanish economy between 1996 and 2007. Different estimates of the duration of the sector adjustment are provided. We reflect on the importance of residential property sales for speculative reasons or motives. Among other results, it is concluded that the market will not empty until the third quarter of 2012 (under the assumption of current development of housing demand), as long as the sector adjusts its supply at current demand growth.

Suggested Citation

  • 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.
    • Handle: RePEc:pra:mprapa:51609
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    File URL: https://mpra.ub.uni-muenchen.de/51825/1/MPRA_paper_51825.pdf
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    Citations

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    Cited by:

    1. 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.
    2. 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.
    3. 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

    Burbuja inmobiliaria; Mercado inmobiliario; Vivienda; Construcción;
    All these keywords.

    JEL classification:

    • 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

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