This study embarks on an exploration of the intricate relationship and housing prices within the dynamic urban landscape of Santiago, from 2008 to 2019. Amidst an escalating housing affordability crisis prevalence of informal settlements, this research seeks to elucidate tors contributing to housing price dynamics, with a particular prices. Utilizing a robust dataset encompassing over 556,400 compiled from the Santiago Real Estate Registrar, this investigation multi-criteria evaluation methodology, incorporating Granger the complex interplay between various economic indicators. At the sis lies the innovative application of weekly data transformations Dicky-Fuller test to ensure the stationarity of variables, thereby for the Granger causality assessment. The study’s findings scape where, contrary to prevailing assumptions, land prices do significant impact on housing prices. Instead, the influence of land fordability is intricately linked to other pivotal factors, inflation, and market indices such as the Santiago Stock Exchange not only challenges conventional wisdom regarding the primacy of ing market dynamics but also offers valuable insights into the estate economics in Santiago. By unraveling the limited causality ing prices, this study contributes a critical perspective to the development and housing policy in Chile. It underscores the to adopt a more holistic approach, considering a broader spectrum in addressing the housing affordability crisis and fostering
Highlights for public administration, management and planning:
Land value has traditionally been considered a fundamental prices; however, the evidence provided argues that this condition cal.
It is crucial for macroeconomic policymakers to consider that sures impact housing prices.
The performance of stocks in local stock markets has a statistically pact on housing prices, creating room to incorporate financialization to be addressed through public policy.
The mortgage rate is a determining factor in ensuring housing for which central banks can take measures aimed at improving curity through differentiated monetary policy options by products.