Politická ekonomie 2021, 69(1):26-47 | DOI: 10.18267/j.polek.1309

Determinanty poptávky a nabídky na trhu s byty a jejich význam pro vysvětlení regionálních rozdílů

Libor Votava ORCID...a, Lenka Komárková ORCID...a, Jiří Dvořák ORCID...a
a Vysoká škola ekonomická v Praze, Fakulta managementu, Jindřichův Hradec, Česká republika

Demand and Supply Determinants on the Property Market and Their Importance in Explaining Regional Differences

There is growing interest in property prices and price trends at national and regional levels. The paper aims to find links between selected demand and supply determinants based on a panel regression of regional data during 2000-2017 and to contribute to further discussion of the role of these determinants. The main output of the paper is the identification of regional differences in the direction and strength of the influence of individual determinants on the flat price. Regional differences were identified in the mid-year population, the number of inhabitants per completed flat, the number of applicants per job, the amount of household disposable income and the divorce rate. In Prague, the first three determinants were significant. The validity of the research is limited by the fact that some potentially significant data are not statistically monitored and data aggregated at the level of regions do not reflect local conditions. The output of the analysis shows determinants that explain the price variability and indicates unused economic policy instruments.

Keywords: real estate price, GDP, price bubble, regional differences, regional trends, disposable income, monetary policy, tax policy
JEL classification: E60, E70, H21, M20

Received: December 19, 2019; Revised: November 1, 2020; Accepted: November 30, 2020; Published: March 5, 2021  Show citation

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Votava, L., Komárková, L., & Dvořák, J. (2021). Demand and Supply Determinants on the Property Market and Their Importance in Explaining Regional Differences. Politická ekonomie, 69(1), 26-47. doi: 10.18267/j.polek.1309
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