Exploring spatial disparities in residential house prices on a county level in Germany Abstract. In the segmented German residential real estate market, house price levels differ substantially among counties. This thesis explores a variety of drivers that may explain spatial disparities of house prices between German counties. Supply and demand for regional house price levels include different aspects as economic, socio-cultural, infrastructural, real estate, and regulatory drivers. An OLS model is built to investigate the associations with house price levels on a county-level. A distinction is made across space between 16 federal states and 401 German counties. Further, I characterize differences across regions where I pay special attention to a variety of drivers, including the urban-rural sprawl. I find that not all drivers have equal dominance levels for regional house price levels. Findings not only reveal that personal income is positively and average age of the inhabitants is negatively associated with the regional house prices, but also that urban and western counties are positively associated with house prices. Keywords. German house prices, residential price variations, urban-rural divide, spatial disparities Christoph Klare Master Thesis Real Estate Studies Final Version COLOFON Title A cross sectional analysis of German regional house prices and associations Version V9 Author Christoph Klare Student number S4115155 Supervisor Prof. dr. ir. A.J. (Arno) van der Vlist Assessor Dr. M. (Mark) van Duijn E-mail
[email protected] Date Nov 18, 2020 Word count 15635 Words Disclaimer: “Master theses are preliminary materials to stimulate discussion and critical comment. The analysis and conclusions set forth are those of the author and do not indicate concurrence by the supervisor or research staff.” Contents 1.