Work detail

Housing Prices in the Czech Republic and Slovakia: Regional Comparison

Author: Bc. Petr Cempírek
Year: 2014 - summer
Leaders: PhDr. Michal Hlaváček Ph.D.
Work type: Bachelors
Language: English
Pages: 62
Awards and prizes:
Abstract: The objective of the present Bachelor's thesis is to compare the behavior of
housing prices in the Czech Republic and Slovakia using econometric analysis.
First, the author presents the historical context and basic housing indicators.
After verifying that variables in dataset are cointegrated, a panel DOLS es-
timator for modelling housing prices is employed. The author uses quarterly
regional data in order to analyze the response of basic housing price fundamen-
tals in the two countries that formed one federation until 1992. By forming
a short run equation with an error{correction term the author checks for the
existence of long run housing price equilibrium and for the speed of price rever-
sion to equilibrium in case it is misaligned. The author then focuses on housing
price misalignments as well as their dynamics in the individual regions.


Česká Spořitelna


Patria Finance