Housing price appreciation and economic integration in a transition economy: Evidence from Kazakhstan
Journal Article (Journal Article)
This paper explores patterns of real estate price movements in an emerging upper-middle income economy, Kazakhstan. The country experienced an explosive, 11-fold increase in real housing prices in urban areas between 2000 and 2007, followed by a sharp decline and stabilization. This paper traces the movements across different regions, types of housing, unit size categories, and neighborhood types. We find that prices moved together closely, implying a linked, if not unified housing market, along with wealth effects that were felt broadly throughout the urban economy.
Full Text
Duke Authors
Cited Authors
- An, G; Becker, C; Cheng, E
Published Date
- June 1, 2021
Published In
Volume / Issue
- 52 /
Electronic International Standard Serial Number (EISSN)
- 1096-0791
International Standard Serial Number (ISSN)
- 1051-1377
Digital Object Identifier (DOI)
- 10.1016/j.jhe.2021.101765
Citation Source
- Scopus