The heterogeneous response of real estate prices during the Covid-19 pandemic

被引：0

作者：

Heiniger, Sandro ^{[1
,2
]}

Koeniger, Winfried ^{[1
,3
,4
,5
,6
]}

Lechner, Michael ^{[1
,3
,5
,7
,8
,9
]}

机构：

[1] Univ St Gallen, SEW HSG, St Gallen, Switzerland

[2] UniDistance Suisse, Brig, Switzerland

[3] CESifo, Munich, Germany

[4] CFS, Frankfurt, Germany

[5] IZA, Bonn, Germany

[6] Swiss Finance Inst, Zurich, Switzerland

[7] CEPR, London, England

[8] IAB, Nurnberg, Germany

[9] RWI, Essen, Germany

来源：

JOURNAL OF THE ROYAL STATISTICAL SOCIETY SERIES A-STATISTICS IN SOCIETY | 2024年

基金：

瑞士国家科学基金会;

关键词：

affordability crisis; asset prices; Covid pandemic; real estate; rents; short-time work; E21; E22; G12; G51; R21; R31; MARKETS;

D O I：

10.1093/jrsssa/qnae078

中图分类号：

O1 [数学]; C [社会科学总论];

学科分类号：

03 ; 0303 ; 0701 ; 070101 ;

摘要：

We estimate the transmission of the pandemic shock in 2020 to the residential and commercial real estate market by causal machine learning, using granular data for Germany. We exploit differences in the incidence of Covid infections and short-time work at the municipal level for the identification of epidemiological and economic effects of the pandemic. We find that (i) a larger incidence of Covid infections temporarily reduced rents for retail real estate; (ii) a larger incidence of short-time work temporarily reduced rents of office real estate; (iii) the pandemic increased prices, particularly in the top price segment of commercial real estate.

引用

页数：24

共 50 条

[41] SUGAR PRICES DEVELOPMENT IN PERIOD OF COVID-19 PANDEMIC
Kotyza, Pavel
Smutka, Lubos
Czech, Katarzyna
Wielechowski, Michal
Pulkrabele, Josef
LISTY CUKROVARNICKE A REPARSKE, 2021, 137 (03): : 121 - 127
[42] Heterogeneous impacts of and vulnerabilities to the COVID-19 pandemic
Li, Manyao
Dai, Shaoqing
Shi, Yuanyuan
Qin, Kun
Brownson, Ross C.
Kestens, Yan
Luo, Miyang
Liu, Shiyong
Su, Jing
Liu, Gordon G.
Yang, Shujuan
Jia, Peng
LANDSCAPE ECOLOGY, 2025, 40 (02)
[43] The impact of the COVID-19 pandemic on retail dairy prices
Liu, Yizao
Rabinowitz, Adam N.
AGRIBUSINESS, 2021, 37 (01) : 108 - 121
[44] Fuelling the pandemic: The impact of fuel prices on COVID-19
Alfano, Vincenzo
Capasso, Salvatore
CASE STUDIES ON TRANSPORT POLICY, 2024, 18
[45] A First Look at the Impact of COVID-19 on Commercial Real Estate Prices: Asset-Level Evidence
Ling, David C.
Wang, Chongyu
Zhou, Tingyu
REVIEW OF ASSET PRICING STUDIES, 2020, 10 (04): : 669 - 704
[46] Digital Response During the COVID-19 Pandemic in Saudi Arabia
Hassounah, Marwah
Raheel, Hafsa
Alhefzi, Mohammed
JOURNAL OF MEDICAL INTERNET RESEARCH, 2020, 22 (09)
[47] In response to: Transanal surgery during COVID-19 pandemic in Lombardy
Sorrentino, L.
Guaglio, M.
Cosimelli, M.
JOURNAL OF SURGICAL ONCOLOGY, 2020, 122 (05) : 996 - 996
[48] Response to: "Applying to dermatology residency during the COVID-19 pandemic''
Alia, Erisa
Skudalski, Lauren
Lu, Jun
JOURNAL OF THE AMERICAN ACADEMY OF DERMATOLOGY, 2021, 84 (01) : E29 - E30
[49] Nurse educators' guilt during the Covid-19 pandemic response
Mcatee, Brooke
Skinner, Helen Machelle
Claycomb, Kelly
TEACHING AND LEARNING IN NURSING, 2025, 20 (01) : 41 - 45
[50] A Response to ‘Virtual Peer Teaching During the COVID-19 Pandemic’
Luke Read
Medical Science Educator, 2021, 31 : 991 - 991

← 1 2 3 4 5 →