The Impact of Ukrainian War Refugees on Rental Prices in Europe: A Panel Data Analysis
The Impact of Ukrainian War Refugees on Rental Prices in Europe: A Panel Data Analysis
Author(s): Adam CzerniakSubject(s): Economic policy, Rural and urban sociology, Migration Studies, Financial Markets, Public Finances, Socio-Economic Research
Published by: AV ČR - Akademie věd České republiky - Sociologický ústav
Keywords: Ukraine; refugees; rental prices; panel data; housing market
Summary/Abstract: This study examines the impact of Ukrainian war refugees on actual rental prices in 27 European countries. Using panel data regression analysis for the period 2017Q1-2023Q1, the study found that inflation, house price growth, and interest rates were the primary drivers of rental price growth after February 2022. The study also showed that an inflow of Ukrainian refugees equal to 1% of the host country’s population translated into an increase in rental price growth of 0.2-0.3%, but this effect was not statistically significant at the 5% probability threshold. Auxiliary estimations revealed the statistical significance of Ukrainian migration when adjusting for the stringency of rent controls and size of the rental market.
Journal: Critical Housing Analysis
- Issue Year: 11/2024
- Issue No: 1
- Page Range: 1-14
- Page Count: 14
- Language: English
