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Boom oder Blase? Einschätzungen von Preisentwicklungen auf Immobilienmärkten am Beispiel Berlins
Vierteljahrshefte zur Wirtschaftsforschung, Vol. 85 (2016), Iss. 1 : pp. 139–158
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BBT GmbH
Abstract
The article analyzes whether Berlin"s housing market shows signals of a new housing bubble between 2009 and 2014. Specifically, it is investigated whether there exists an empiric relationship between the low interest rate policy of the ECB and Berlin"s housing prices. A potential housing bubble scenario, caused by the ECB policy, is considered and the user cost of housing approach is applied to measure the effects of the low interest rates. Furthermore the interaction between the housing supply and demand is analyzed to evaluate Berlins „housing scarcity" and to test, what extend the increasing prices are economically justified.