Special Issue 02/2023: Housing Markets: Dynamic factors, volatility, public policies, real estate companies

Special Issue 02/2023: Housing Markets: Dynamic factors, volatility, public policies, real estate companies

Guest editors:

Francisco Guijarro, Universidad Politécnica de Valencia, Instai.

Gumersindo Ruiz, Universidad de Málaga, Euroval.

Aim of this monographic issue

Revista de Estudios Empresariales dedicates a monographic issue to the UE and Spanish housing market. The title of this call for papers defines the content and scope of the articles to be considered.

-Spatial and temporal dynamics allow for the analysis of demographic and population movements and their influence on the demand for housing. Volatility is inherent to this sector, frequently reverting to the mean, but with significant deviations. Price and transactions adjust according to determining factors including employment, personal income and housing stocks.

-The role of public policies is identified with urban legislation and fiscal policies; as well as the monetary expectations on rates of interest and mortgages. Housing price is related to the economic cycle, and they were a major factor in the financial and housing global crisis. Recently the housing sector has been closely monitored because of its influence on other sectors through changes on demand and supply and housing prices.

-The relationship between rents and house prices is a proxy to profit in build to lend investments, and a guide to the supply expectations. New public societies in the market specialized on build to rent are a special field for real estate and housing analysis.

-For a company of the real estate market the relationship between leasing and housing price is relevant as an indicator of profitability and housing supply expectations.  The new building to rent societies have directly access to finance flows against the secular bank mortgages. Today, environmental and energetical efficiency is both a risk and an opportunity for the housing sector, trough house rehabilitation.

Editor expectations about the papers

We expect a quantitative analysis and the use of statistics and econometrics methods. Theoretical research on welfare functions and decision making are also welcome. Valuation and appraisal methodology are highly regarded in the volatile housing markets.

Papers could present research on price of housing determination, focusing on supply and demand factors. The market for new and used houses is adjusting differently in both prices and transactions, hence the relevance of local markets and the variables that determine transactions. Leasing and rent housing market is a topic of interest to us, as is the role of the short-term rental platforms. Portfolios of housing on the balance sheets of real estate societies and relative rentability against other real estate portfolios are indicative of the expectation for housing supply. Appraisal and housing valuation are interesting topics including the use of machine learning techniques and artificial intelligence on data treatment. Last, but not least, theorical analysis are also welcome.

Keywords: Housing market, prices, transactions, public policies, real estate companies, housing appraisal and valuation, decision making, welfare functions.

Proposed timetable:

Original submission deadline: March 30, 2023.

Expected publication date: July, 2023.