Drent, N. (2015) The effect of foreign real estate investments on Berlin’s house prices. Master thesis.
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Abstract
Foreign capital inflows in German real estate markets increased over the last years impressively due to enhanced consumer confidence, increasing levels of transparency and low interest rates (Bundesbank, 2014). At the same time the property prices were overvalued and according to Ross (2014) international investors created this overvaluation of house prices. The objective of this research is to give insight in the effect of foreign real estate investments on Berlin’s house prices. To do so, an OLS regression with fixed effects and first differences is estimated on a time series cross-sectional dataset. The regression results show that FREI is a determinant for house price developments, although its effect on house price developments is relative small. Knowing the effects of FREI fluctuations to house prices and building activity indicators policymakers can decide to attract, restrict or avert FREI into their markets and in this case into Berlin’s real estate markets.
| Item Type: | Thesis (Master) |
|---|---|
| Degree programme: | Real Estate Studies |
| Supervisor: | Nozeman, E.F. and Venhorst, V.A. |
| Date Deposited: | 23 Apr 2020 05:25 |
| Last Modified: | 23 Apr 2020 05:25 |
| URI: | https://frw.studenttheses.ub.rug.nl/id/eprint/1259 |
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