List of Articles Housing Market

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  1 - Examining the presence of price bubble in the Iranian housing market using panel data
  علی اکبر خسروی‏ نژاد فرزانه فتحی
  In this paper, an attempt is made to test the hypothesis of existing a price bubble in the Iranian housing market during the years under the study, i.e. 2007-2008. Thus, the long run relationship between housing price and certain fundamental variables of the housing mar More

  In this paper, an attempt is made to test the hypothesis of existing a price bubble in the Iranian housing market during the years under the study, i.e. 2007-2008. Thus, the long run relationship between housing price and certain fundamental variables of the housing market has been investigated by utilizing the co-integration method of panel data using the data of different provinces. In this test , besides the housing price and rent, we have specified our model by including the population and household income as the main variables moving the demand for housing which and cost of production of housing and supply of new housing units as variables transferring the housing supply have been considered in order to reflect till to capture the shifting effects of demand and supply curves of housing which have been undergone the co-integration test. However , the results indicate that using the information related to the panel data of different provinces in the country, the long-run relationship between housing prices and fundamental variables in years under the review is valid and the hypothesis of existing the housing price bubble in these years is refuted. Hence, the rise or fall in the housing price in the years under the study can be deemed as severe fluctuations of prices in the housing market and not as bubbles Manuscript profile
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  2 - Determine the willingness to pay for improved air quality in Tehran
  ehsan asgharzad Kambiz Hojabr kiani Ali Emami Meybodi Farid Asgari
  10.22034/jest.2021.44608.4693
  B Background and Objective: Due to the need for citizens to be aware of the value of clean air and the impact of pollution on their assets, as well as the possibility of better analysis of projects and compare them with each other and selecting the best and least expen More

  B Background and Objective: Due to the need for citizens to be aware of the value of clean air and the impact of pollution on their assets, as well as the possibility of better analysis of projects and compare them with each other and selecting the best and least expensive project for policy makers and economic planners, this study The value of clean air and the willingness to pay to improve air quality has been estimated by citizens in the metropolis of Tehran. Method: In contrast to the conventional economic method in which the value of a commodity is calculated for all commodity availability, hedonic is a method by which the value of enjoyment is determined by the characteristics of a commodity. The hedonic pricing method is the observed price of a commodity regression On its qualitative attributes, therefore, it can be said that hedonic method considers the demand of a product or input as a function of its characteristics. In this research, we used the data of the transactions carried out in the housing market of Tehran during the period of 1395 and based on the three structural, neighborhood and environmental characteristics we have estimated the price of the Tehran's hedonic price function. Accordingly, 7141 samples of real transactions were collected by simple random sampling from 22 areas of Tehran. Findings: The results show that 81 percent of logarithmic changes in housing prices are explained by selected variables in a two-way logarithmic model. Most of the variables used are meaningful and have an expected sign. Also, using the implicit derivative, the coefficient of air quality index is estimated from the function of the hedonic price. Discussion and Conclusion: The final desire to pay for a unit of air quality index (improvement of air quality index) for each household in Tehran is equal to the figure of about 3 million rials. According to the average purchase area of ​​72 square meters in Tehran, the final desire to pay per square meter is 42 thousand Rials. Manuscript profile
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  3 - Investigating the Effect of Liquidity and Per capita Income on the Housing Market (Using a vector auto regression model)
  shahrzm vahedi Farhad Hanifi seyyed jalal sadeghi sharif
  AbstractThe housing market has been one of the most volatile sectors of the economy in recent times, experiencing periods of stagnation and boom. It is important to note that the housing sector is most closely linked to other sectors of the economy. With the recession, More

  AbstractThe housing market has been one of the most volatile sectors of the economy in recent times, experiencing periods of stagnation and boom. It is important to note that the housing sector is most closely linked to other sectors of the economy. With the recession, the whole economy will be in crisis. Also, the housing sector, given these features, has a stronger impact on investment and housing prices than short-term economic fluctuations, as well as its widespread and past relevance to other sectors, has the potential to generate growth and development in other sectors of the economy and can serve as an endogenous growth incentive. To play a slower role, and to stimulate, to stimulate economic growth in the short term and to drive the recession out. Therefore, further reflection is necessary in this section. Therefore, in this study, using the vector auto regression Time Series (VAR) analysis model, we investigate the interaction between housing price markets of some macroeconomic variables such as liquidity volume, per capita income. The results showed that the volume of liquidity has a significant share in the volatility of the housing market. Therefore, policymakers in the economic field should pay more attention to this. Manuscript profile
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  4 - Examining and Comparing Security of Investment in the Stock, Gold, Exchange and Housing Market of Iran using Value at Risk (VaR) Criteria
  Gholam Reza Zomorodian Mahdi Shabanzadeh. Valiollah . Faryadras
  Investment in each country is subject to a set of variables that Security of Investment is one of the most them.Official statistics show that in the recent decades, on average, only about 12‌% of the country's real GDP has been allocated to investment in the manufacturi More

  Investment in each country is subject to a set of variables that Security of Investment is one of the most them.Official statistics show that in the recent decades, on average, only about 12‌% of the country's real GDP has been allocated to investment in the manufacturing sector, including the production of goods and services and a considerable portion of it has been absorbed into unproductive speculative activities.Accordingly, this study with purpose to examining and comparing security of investing in different markets has evaluated the risk of investing in four market including stocks, gold, currency and Iran's housing using the Value at Risk (VaR) Criteria. Also in this study to providing a more accurate analysis of the security investment based on investors' attitudes TOPSIS method has been used.All information required for the study was collected on a monthly basis for during 2002 - 2013.The result of this study showed based on VaR Criterion, the security of investment in the stock market is much lower than other markets, so investors in this market face higher risk of investments relative to other markets.Also, the result of this study showed based on TOPSIS method (according to risk and return critrias) risk averse and risk neutral Investors have the Similar behavior, So that the two groups prefer The investment in the housing market and then investment in the gold market on the parallel markets including exchange and stock. However, unlike the aforementioned groups, risk-taking investors prefered investing in the stock market and then investing in the housing market on the investment in the gold and currency markets. Manuscript profile
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  5 - A Simple Model for Speculative Bubble in Tehran Housing Market
  Habib Morovat Javid Bahrami
  In this paper, a simple model of a speculative housing market will be developed in which the demand for houses is influenced by expectations about future housing prices. Agents rely on extrapolative and regressive forecasting rules to form their expectations. The relati More

  In this paper, a simple model of a speculative housing market will be developed in which the demand for houses is influenced by expectations about future housing prices. Agents rely on extrapolative and regressive forecasting rules to form their expectations. The relative importance of these competing views evolves over time, subject to market circumstances. It will be represented that the relative price elasticity of the demand of different views has important role in making speculative bubbles of Tehran housing market. The results indicate that the weight of agents by extrapolative demand (chartists) is more than 90% during last two decades. Manuscript profile
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  6 - Evaluation of the Dynamic Relationship between Foreign Exchange Market, Stock Market and the Housing Market in Iran Using a Multivariate GARCH Model
  Oranus Parivar Mahbobeh hassani
  This paper analyzes the dynamic relationship between housing market, stock market’s           general index and real effective exchange rate of Iran using VAR and MGARCH models. For this purpose, monthly data of ti More

  This paper analyzes the dynamic relationship between housing market, stock market’s           general index and real effective exchange rate of Iran using VAR and MGARCH models. For this purpose, monthly data of time period between Farvardin 1383 till Ordibehesht 1395 (Persian calendar) have been used. Based on the obtained results, there is no significant effect of other markets’ returns on housing market returns, while there is a significant and negative effect of stock market and housing market returns on foreign exchange market returns. In addition, in this study, the effect of simultaneous fluctuations of the housing market, foreign exchange and stock markets have also been evaluated. The results show that each market is not independent from other markets and a single market fluctuations will affect on the other markets. Because of the degree of simultaneous fluctuations among three markets, in order to make decision in one market and reduce the errors in decision making, policy makers can also consider political tools in other markets. Furthermore, investors may allocate their assets to these three markets in order to reduce the risk of investment Manuscript profile
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  7 - Examine the relationship between financial markets and Housing market
  Shahram Vahedi farhad hanifi mirfeiz fallah seyyedjalal sadeghisharif
  The analysis of the turbulence among markets has been widely applied and in details the emphasis on theorists and researchers in different fields. The reciprocal relationship between financial markets and the macroeconomic markets is based on the idea, which has negativ More

  The analysis of the turbulence among markets has been widely applied and in details the emphasis on theorists and researchers in different fields. The reciprocal relationship between financial markets and the macroeconomic markets is based on the idea, which has negative shocks to the economy of the housing sector. The behavior of the housing market is also important because of the impact of housing prices on bank loans and other financial institutions. In the housing sector, a monetary and monetary policy is expected to increase demand for housing by increasing the volume of money in the asset portfolio. Of course, this will depend on a variety of issues. Therefore, the need for further reflection seems necessary in this part. In this study, using the time series analysis of vector regression (VAR), the relationship between financial and financial markets has been investigated. The results of the study show that financial markets, especially foreign exchange markets and gold markets have a significant relationship with housing. Manuscript profile
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  8 - Investigating and analyzing the spillover effects of stock market in interaction with currency, gold-coin, crude oil and housing markets: VARMA-BEKK-AGARCH Approach
  mohammadbagher mohammadinejad pashaki seyed jalal sadeghi sharid Mohammad Eqbalnia
  One of the most important issues in financial knowledge which is related to portfolio selection, efficiency market and asset allocation is spillover effect between markets and this effect includes return, volatility and shock effect. These days every shock or volatility More

  One of the most important issues in financial knowledge which is related to portfolio selection, efficiency market and asset allocation is spillover effect between markets and this effect includes return, volatility and shock effect. These days every shock or volatility in one market effect on other markets. Correct identification of spillover effect is very important. This paper aims to measure and analysis spillover effect between stock, currency, gold-coin, oil and housing markets. For these purposes we collect daily data of stock, currency, gold-coin, oil and housing for the time period of 2009 to 2020.we used VARMA-BEKK-AGARCH model for estimation. Results show return spillover from currency to stock and from stock to housing and shock spillover from currency, gold-coin and oil to stock and also volatility spillover from currency and gold-coin to stock and from stock to housing. Besides result show leverage effect of shocks from stock to housing market.so we suggest in order to minimize investment risk we had better to evaluate the spillover effects in selecting markets(assets)for our portfolio. Manuscript profile