AUTHOR=Kadeřábková Božena , Řežábek Pavel TITLE=Does increased construction activity transmit into housing prices and rents? Evidence from the V4 countries and Austria JOURNAL=Frontiers in Sustainable Cities VOLUME=Volume 5 - 2023 YEAR=2023 URL=https://www.frontiersin.org/journals/sustainable-cities/articles/10.3389/frsc.2023.1267964 DOI=10.3389/frsc.2023.1267964 ISSN=2624-9634 ABSTRACT=

This study focuses on the housing market in Central European countries. We analyze the housing prices and their sensitiveness to selected variables, especially regarding construction activity in the V4 countries and Austria. By employing a specification of a recursive VAR model for each country, we show that the most responsive to changes in construction activity is housing market in Austria. Meanwhile housing prices in the V4 countries do not exhibit any strong association with construction activity, perhaps due to under-supply of housing in the countries. The paper provides discussion on the variables dependencies explanations.