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Elasticidad precio de la oferta inmobiliaria en el Gran Santiago
[Housing supply elasticity in Greater Santiago]

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  • Lozano Navarro, Francisco-Javier

Abstract

The aim of this article is to model the housing market in Greater Santiago from a supply perspective, using a Tobin-q equation to explain residential investment and taking into account its fundamentals: house prices, land prices and construction costs. Price elasticity coefficients are estimated and the following hypothesis contrasted: 1) there exist significant differences among areas within the city, which are probably caused by regulation; and 2) areas with more elastic supply present moderate price adjustments.

Suggested Citation

  • Lozano Navarro, Francisco-Javier, 2015. "Elasticidad precio de la oferta inmobiliaria en el Gran Santiago [Housing supply elasticity in Greater Santiago]," MPRA Paper 65012, University Library of Munich, Germany.
    • Handle: RePEc:pra:mprapa:65012
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    More about this item

    Keywords

    Housing supply; house prices; residential investment; q-theory;
    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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