Macroeconomic variables influencing housing prices in Vilnius

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Collection:
Mokslo publikacijos / Scientific publications
Document Type:
Straipsnis / Article
Language:
Anglų kalba / English
Title:
Macroeconomic variables influencing housing prices in Vilnius
Authors:
In the Journal:
International journal of strategic property management. 2022, Vol. 26, no. 1, p. 24-34
Subject Category:
LT
Vilnius. Vilniaus kraštas (Vilnius region); Lietuva (Lithuania); Darbo apmokėjimas / Remuneration of work; Ekonominė padėtis / Economic conditions; Migracija / Migration; Nedarbas / Unemployment.
Summary / Abstract:

ENThe way macroeconomic variables such as unemployment / GDP per capita/inflation/wages/internal migration influenced housing prices (nominal house prices and housing rent prices) in Vilnius in 2006–2019 has been investigated in the research. Conditions under which different macroeconomic variables could influence housing prices were established in the research. Lower unemployment, higher GDP per capita and inflation rate were all related to higher nominal house prices in Vilnius. Higher GDP per capita, wages and internal migration were positively related to housing rent prices in Vilnius. Analyzed macroeconomic variables all together explained 88 percent of variance of nominal house prices in Vilnius over the period of 2006–2019 and 80 percent of variance of housing rent prices in Vilnius over the same period.

DOI:
10.3846/ijspm.2021.15961
ISSN:
1648-715X; 1648-9179
Subject:
Related Publications:
Permalink:
https://www.lituanistika.lt/content/98743
Updated:
2023-12-05 20:20:26
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