Research Project

The impact of housing and land-use regulations on the formation of speculative house price bubbles: international evidence

Department(s)/ Research Infrastructure
Project Status
Current Project
Project Duration
since/from 2018 to 2019
Commissioned by
Leibniz Association, Leibniz Research Alliance “Crises in a Globalised World”
Project Manager
Dr. habil. Konstantin Kholodilin
Project Team/Contacts at DIW Berlin


This project raises the question of how rental housing market and land-use regulations affect the build-up of the speculative house price bubbles that often lead to financial system instability and deep recessions. The study focuses on the OECD countries. Specifically, the project examines the impact of the rent control, protection of tenants from eviction, housing rationing, and land-use regulations. It tests the hypothesis that over- and under-regulated rental markets cause an excessive debt-financed homeownership formation that increases the probability of speculative price bubbles.

nach oben