<abstract xmlns="http://www.w3.org/1999/xhtml"><p>This article analyzes the spread of market phenomena, market tensions and trends between real estate markets on the global scale. At the theoretical level, the main aim of the study was to determine the nature of the relationships between housing markets throughout the world. The main research goal was to identify and describe the strength of the correlations between the real estate markets of the world’s 10 largest economies (countries with the highest GDP). The analyses were conducted with the use of Pearson’s correlation tests, Granger causality tests and graphs. Our results revealed strong correlations between most of the markets; however, we did not find strong evidence for causality. In a globalizing world, national economies will become increasingly interconnected, which will indirectly influence the housing market.</p></abstract>

This article analyzes the spread of market phenomena, market tensions and trends between real estate markets on the global scale. At the theoretical level, the main aim of the study was to determine the nature of the relationships between housing markets throughout the world. The main research goal was to identify and describe the strength of the correlations between the real estate markets of the world’s 10 largest economies (countries with the highest GDP). The analyses were conducted with the use of Pearson’s correlation tests, Granger causality tests and graphs. Our results revealed strong correlations between most of the markets; however, we did not find strong evidence for causality. In a globalizing world, national economies will become increasingly interconnected, which will indirectly influence the housing market.

An Analysis of the Relationships Between Domestic Real Estate Markets – A Systemic Approach

Faculty of Geodesy, Geospatial and Civil Engineering

Real Estate Management and Valuation

This work is licensed under the Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 License.

This article analyzes the spread of market phenomena, market tensions and trends between real estate markets on the global scale. At the theoretical level, the...

An Analysis of the Relationships Between Domestic Real Estate Markets – A Systemic Approach

Published Online: Apr 15, 2019

Page range: 79 - 91

DOI: https://doi.org/10.2478/remav-2019-0008

Keywords
International house prices, spillovers, financial globalization

© 2019 Justyna Brzezicka et al., published by Sciendo

This work is licensed under the Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 License.

An Analysis of the Relationships Between Domestic Real Estate Markets – A Systemic Approach

Published Online: Apr 15, 2019

Page range: 79 - 91

DOI: https://doi.org/10.2478/remav-2019-0008

KeywordsInternational house prices, spillovers, financial globalization

© 2019 Justyna Brzezicka et al., published by Sciendo

This work is licensed under the Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 License.

Keywords
International house prices, spillovers, financial globalization