Master thesis analyzing the different factors that could affect the Spanish Real Estate crisis in Spain, especially those factors coming from abroad, the international factors and variables that helped the Real Estate Bubble in Spain.
Read it at: http://sdrv.ms/XuX35T http://dl.uncw.edu/etd/2010-3/ausinar/ramonausina.pdf Here you have the abstract and conclusions: ABSTRACT Purpose: Analyze the different factors that could affect the Spanish Real Estate crisis in Spain, especially those factors coming from abroad, the international factors and variables that helped the Real Estate Bubble in Spain. Design/Methodology/Approach: regression analyses were performed using ordinary least squares (OLS), which produced coefficient estimates of the independent variables. Findings: We conclude that international factors are important and have helped the Real Estate Bubble in Spain. Some of them affected in the way we predicted, like FDI, while others, like the globalisation index, affected in a negative way to the real estate prices evolution. CONCLUSIONS In this paper, we have argued that the real estate price overvaluation was due to, not only national factors like the decrease of the unemployment rate, the decrease between the mortgage interest loans and the Euribor, and the increase of the mortgages signed, but also international factors. In fact, we see how poor the influence of international factors was on the real estate prices before the housing boom, and how relevant they were from 1999 to 2009. As a result, we can assume that the boom was pushed by international factors mainly, like the decrease on the globalization index (KOF), increase of foreign direct investments on Real Estate.
Etiquetas de Technorati: International Financial Crisis,Real Estate,Globalization Index,Foreing Direct Investments,Bubble,Ordinary least squaes
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