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The 2015 European refugee crisis and residential housing rents in Germany

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Bibliographic Details
Authors and Corporations: K├╝rschner Rauck, Kathleen (Author), Kvasnicka, Michael (Author)
Other Authors: Kvasnicka, Michael 1972- [Author]
Type of Resource: E-Book
Language: English
published:
Bonn, Germany IZA December 2018
Series: Forschungsinstitut zur Zukunft der Arbeit: Discussion paper series ; no. 12047
Source: Verbunddaten SWB
Lizenzfreie Online-Ressourcen
Description
Summary: We study the impact of the 2015 mass arrival of refugees to Germany on residential housing rents. Using unique data on end of year county-level refugee populations and data on monthly offers of flats for rent from Germany's leading online property broker Immobilienscout24, we find strong evidence in difference-in-differences regressions for a negative effect of refugee immigration on rental prices. Adverse price effects, however, appear attenuated in the heyday of the crisis in late 2015 if a larger share of refugees is housed in decentralized accommodation. Various robustness checks corroborate our findings, including IV regressions that exploit for identification information on the pre-crisis location of refugee reception centers and group quarters.
Physical Description: 1 Online-Ressource (circa 34 Seiten); Illustrationen