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Elasticidad precio de la oferta inmobiliaria en el Gran Santiago

Lozano Navarro, Francisco-Javier (2015): Elasticidad precio de la oferta inmobiliaria en el Gran Santiago. Published in: Working Paper No. 80, Chilean Chamber of Construction (1 February 2015)

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Abstract

The aim of this article is to model the housing market in Greater Santiago from a supply perspective, using a Tobin-q equation to explain residential investment and taking into account its fundamentals: house prices, land prices and construction costs. Price elasticity coefficients are estimated and the following hypothesis contrasted: 1) there exist significant differences among areas within the city, which are probably caused by regulation; and 2) areas with more elastic supply present moderate price adjustments.

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