What moves housing markets: A state-space approach of the price-income ratio

Rizi, Majid Haghani

doi:10.1016/j.inteco.2021.06.003

Cited by 3 publications

(2 citation statements)

References 29 publications

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“…It is also used when calculating the Property Prices Index mentioned above. A new home's average price and family income are used to construct the PIR (Rizi, 2021). Since PIR has a clear advantage Daulet Mukayev, Urpash Shalbolova, Justyna Tanaś…”

Section: Literature Reviewmentioning

confidence: 99%

Housing affordability analysis in Kazakhstan based on D-HAQ model

Mukayev¹,

Shalbolova²,

Tanaś³

2022

Journal of International Studies

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Housing affordability is an acute socio-economic problem in many countries, and Kazakhstan is no exception. The purpose of the article is to assess the affordability of purchasing houses in the regions of Kazakhstan, taking into account dynamic changes in household income and expenditures. The analysis used data from 17 regions of Kazakhstan for 2021, which were collected from the Bureau of National Statistics, Statistical Bulletin of the National Bank, and analytical web portal. Based on the data, three indicators – down payment affordability (DPA), monthly repayment affordability (MRA), and dynamic indicator TAM, which is the time to achieve adequate MRA – were calculated. Then the Housing Affordability Quadrant was built. The results of the analysis showed that all regions of Kazakhstan are located in the third quadrant. This means that households in these regions have difficulty making both down and monthly payments. Full housing affordability in any part of the country is not observed. Then the affordability of housing under the preferential mortgage lending program was assessed, and as a result, housing affordability improved only slightly. The authors concluded that the lower the solvency of monthly payments, the less effective the effect of increasing affordability by lowering the interest rate on mortgage loans. Instead, it is recommended to take state control of prices in the real estate market in each region of Kazakhstan.

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Section: Literature Reviewmentioning

confidence: 99%

Housing affordability analysis in Kazakhstan based on D-HAQ model

Mukayev¹,

Shalbolova²,

Tanaś³

2022

Journal of International Studies

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“…At a personal or household level, housing accounts for a large portion of wealth [1]. Therefore, various stakeholders, including governments, investors, and academics, have tried to maintain the stability and effectiveness of the housing market by developing a model for appraising housing prices [2][3][4].…”

Section: Introductionmentioning

confidence: 99%

Deep Neural Network As a Tool for Appraising Housing Prices: A Case Study of Busan, South Korea

Song

Jang

et al. 2022

J. Phys.: Conf. Ser.

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This study examines whether the number of hidden layers in a deep neural network significantly influences the model accuracy and efficiency for appraising housing prices. We provide empirical evidence that the deep neural network can achieve high accuracy with a small number of hidden layers on our dataset, which contains various hedonic variables. Furthermore, we show that adding layers does not necessarily guarantee the model’s accuracy and effectiveness of the computing time.

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Current state of housing construction and its availability in Kazakhstan

Mukaev

Shalbolova

Salykov

2023

jour

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The purpose of this article is to analyze the development of housing construction and assess the affordability of housing at the present stage. The paper presents the results of a study of the state of the volume of the country’s housing stock, its structural composition by form of ownership, distribution by regions of Kazakhstan. The analysis of the commissioning of new housing, a comparison by the territorial structures of the country is given. The sources of investment in housing construction are considered: private, state and foreign. The results of the analysis of quantitative ratios of indicators by sources of investment in housing construction are presented. The analysis of the annual commissioning of affordable housing built under housing programs at the expense of public investment is presented. The assessment was made of the affordability of commercial housing based on the selected prices for apartments by regions of Kazakhstan (as of January, June and December 2022) and an assessment of the affordability of housing, taking into account the economic instruments that take place in the housing programs of Kazakhstan as of 2023. The article was prepared as part of the implementation of the scientific project No. AP09260210, funded by the Science Committee of the Ministry of Science and Higher Education of the Republic of Kazakhstan.

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What moves housing markets: A state-space approach of the price-income ratio

Cited by 3 publications

References 29 publications

Housing affordability analysis in Kazakhstan based on D-HAQ model

Housing affordability analysis in Kazakhstan based on D-HAQ model

Deep Neural Network As a Tool for Appraising Housing Prices: A Case Study of Busan, South Korea

Current state of housing construction and its availability in Kazakhstan

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