2026-04-17T02:53:27Zhttps://recercat.cat/oai/request

oai:recercat.cat:2117/882402025-07-17T11:36:13Zcom_2072_1033col_2072_452950

Análisis y pronóstico del precio de la vivienda en España: modelo econométrico desde una perspectiva conductual Roig Hernando, Jaume Gras Alomà, Ramon Soriano Llobera, Juan Manuel Àrees temàtiques de la UPC::Arquitectura::Tipologies d'edificis::Habitatges Housing Residential Real Estate Prices Behavioural Finance Econometric Model Real Estate Cycle Forecast Real Estate Investment CYCLES Habitatge The present paper develops an econometric model of the real estate cycle, focused on the analysis of the residential market in Spain, and aims to predict the future evolution of the average and fundamental prices of the housing industry. Unlike traditional models, the Econometric Model developed incorporates not only an extrinsic and intrinsic approach, but also analytical assumptions and criteria inherited from the Behavioral School. Contrasting the Modern Financial School theory, the Behavioral Finance School assumes the presence of irrational investors in the market. Thereby irrational decisions substantially influence, in a persistent way, whether underestimating or overestimating, the evolution of asset prices. This irrational influence is the fundamental basis of both expansive and depressive phases that shape the real estate cycle. Peer Reviewed Postprint (author's final draft) 2015-01-01 Article Open Access