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What is Housing Price Dynamics in Portugal about?

The article examines the determinants and elasticities of housing prices in Portugal, highlighting the significant price increases over the last decade, which are among the highest in Europe. It employs a three-step methodology using panel data and time series regression to analyze housing prices at both national and metropolitan levels, revealing that housing prices are inelastic to income and influenced heavily by momentum. The findings suggest that conventional equilibrium models do not adequately explai

Author

João Paulo Castro

Language

EN