| Title |
The influence of transition economy pecularities on the formation of housing price level / |
| Translation of Title |
Pereinamosios ekonomikos šalies ypatumų poveikis būsto kainų lygio formavimuisi. |
| Authors |
Snieska, Vytautas ; Venclauskiene, Deimante ; Gaspareniene, Ligita ; Gaidelys, Vaidas |
| DOI |
10.5755/j01.ee.22.5.973 |
| Full Text |
|
| Is Part of |
Inžinerinė ekonomika = Engineering economics.. Kaunas : Technologija. 2011, vol. 22, iss. 5, p. 494-500.. ISSN 1392-2785. eISSN 2029-5839 |
| Keywords [eng] |
housing market ; country with transition economy ; housing price level |
| Abstract [eng] |
The article deals with a global problem – the influence of transition economy peculiarities on the formation of a housing price level. Real estate market takes a significant share in global economics which suggests the important position of the real estate market in global economic processes. Processes of world globalisation strengthen the links between the real estate market and cycles of overall economics. These links are less understandable and less apparent in transition economies trying to successfully integrate into the communities of market economies and catch up with developed countries. Processes in the real estate markets in transition economies have not been fully researched, and they differ from the processes of the real estate markets in developed economies with their peculiarities, possible market participants’ reactions to economic shock and outcomes for the country’s economy. Common problems with property privatization, formation of legal and financial systems, real estate market cycle are specific and the countries with transition economy face them. Specificity of a narrower real estate market share – housing market – is determined by the need of housing market participators to procure and possess own housing unsatisfied during the period of command economy. The need for housing is constant and reflects the present level of people’s wellbeing, however, in the case of countries with transition economy a big share of new players who allow making irrational investment decisions because of the lack of historical experience and information interfere with processes in housing market. [...]. |
| Published |
Kaunas : Technologija |
| Type |
Journal article |
| Language |
English |
| Publication date |
2011 |
| CC license |
|
