Utjecaj kretanja makroekonomskih varijabli na cijene stambenih nekretnina u Europskoj uniji

master's thesis

• Title (english): The influence of the movement of macroeconomic variables on the prices of residential real estate in the European union
• Author: Ivan Gašpar
• Mentor: Tamara Slišković (mentor)
• Committee member: Marija Beg (predsjednik povjerenstva)
• Committee member: Tomislav Sekur (član povjerenstva)
• Granter: University of Zagreb; Faculty of Economics and Business; (Department of Macroeconomics and Economic Development); Zagreb
• Defense date and country: 2023-09-27, Croatia
• Scientific / art field, discipline and subdiscipline: SOCIAL SCIENCES; Economics; Macroeconomics

Abstract

Iz analize provedene u ovom diplomskom radu možemo zaključiti da su nekretnine važan faktor ekonomske, društvene i pravne strukture modernog društva. Njihova važnost proizlazi iz činjenice da se nekretnine ne samo koriste za stanovanje ili poslovanje, već predstavljaju i značajan oblik imovine te često služe kao sredstvo investiranja. Kroz proučavanje utjecaja gospodarskog rasta, inflacije, kamatnih stopa, te stope nezaposlenosti na cijene stambenih nekretnina, postalo je jasno da su ovi faktori ključni u oblikovanju dinamike tržišta nekretnina. Analizom trendova cijena stambenih nekretnina u Europskoj uniji kroz proteklih tridesetak godina, uočava se dinamičan karakter tog tržišta. Tržište je prolazilo kroz različite faze rasta, stagnacije i kriza, pri čemu su mnogi čimbenici, kao što su ekonomske prilike, demografske promjene i regulatorni okvir, utjecali na cijene. Primjerice, u periodu prije COVID-19 pandemije, cijene stambenih nekretnina su se kretale u različitim smjerovima u različitim zemljama, pokazujući dinamičnost i nestabilnost tržišta. samim istraživanjem je dokazana povezanost i utjecaj nezavisnih varijabli na kretanje cijene stambenih nekretnina, a zaključak analize ukazuje da su varijable rast BDP-a, inflacija, kamatne stope i stopa nezaposlenosti statistički značajno povezane s indeksom cijena stambenih nekretnina, a model fiksnih efekata (FE) se pokazao kao najprikladniji za procjenu parametara, pri čemu je uspješno objasnio veći dio varijabilnosti u indeksu cijena nekretnina.

Abstract (english)

From the analysis carried out in this thesis, we can conclude that real estate is an important factor in the economic, social and legal structure of modern society. Their importance stems from the fact that real estate is not only used for housing or business, but also represents a significant form of property and often serves as means of investment. Through the study of the impact of economic growth, inflation, interest rates, and the unemployment rate on residential property prices, it became clear that these factors are key in shaping the dynamics of the real estate market. Analyzing the price trends of residential real estate in the European Union over the past thirty years, the dynamic character of that market can be seen. The market has gone through various phases of growth, stagnation and crises, with many factors, such as economic opportunities, demographic changes and the regulatory framework, affecting prices. For example, in the period before the COVID-19 pandemic, residential real estate prices moved in different directions in different countries, showing the dynamism and instability of the market. the research itself proved the connection and influence of independent variables on the movement of residential real estate prices, and the conclusion of the analysis indicates that the variables GDP growth, inflation, interest rates and unemployment rate are statistically significantly related to the residential real estate price index, and the fixed effects model (FE) proved to be the most suitable for parameter estimation, where it successfully explained most of the variability in the real estate price index.

• Keywords: ekonomija; makroekonomija; makroekonomske varijable; gospodarski rast; inflacija; nezaposlenost; demografski faktori; indeks cijena nekretnina; kamatne stope
• Keywords (english): economy; macroeconomics; macroeconomic variables; economic growth; inflation; unemployment; demographic factors; real estate price index; interest rates
• Language: croatian
• URN:NBN: urn:nbn:hr:148:960137
• Study programme: Title: Economics; Study programme type: university; Study level: integrated undergraduate and graduate; Academic / professional title: sveučilišni magistar ekonomije/sveučilišna magistra ekonomije (sveučilišni magistar ekonomije/sveučilišna magistra ekonomije)
• Type of resource: Text
• File origin: Born digital
• Access conditions: Open access
• Created on: 2023-09-27 16:03:21