Template-Type: ReDIF-Article 1.0

Author-Name: Christos S. Savva
Author-Workplace-Name: Department of Commerce, Finance and Shipping, Cyprus University of Technology
Author-Email: marpetm@otenet.gr 

Title: House Price Dynamics and the Reaction to Macroeconomic Changes: The Case of Cyprus
Abstract: This paper applies a two-regime Markov switching model to investigate the impact of the macro-economy on the dynamics of the housing market in Cyprus for the period from 2001 to 2014. The econometric methodology implemented in this study suggests that the behaviour of housing market in Cyprus is regime dependent and allows for a clearer understanding of the drivers of the housing market during “boom” and “crash” periods.

Classification-JEL:
Keywords: Cyprus housing market, Macroeconomic determinants, Housing market. 
Journal: Cyprus Economic Policy Review
Pages: 79-90
Volume: 9
Issue: 2
Year: 2015
Month: December
File-URL: https://www.ucy.ac.cy/erc/documents/Savva_79-90.pdf
File-Format: Application/pdf
Handle: RePEc:erc:cypepr:v:9:y:2015:i:2:p:79-90