Co-movement of real estate prices: a study of Brazil’s three largest cities

Authors

DOI:

https://doi.org/10.14393/REE-v39n2a2024-68400

Keywords:

Property Prices, Price transmission, Time series

Abstract

The objective of the paper is to verify the existence of transmission of residential real estate prices among Brazilian cities. The strategy adopted was to analyze the time series of prices and estimate an Autoregressive Vector Model - VAR for panel data and Granger causality tests for the three largest cities in Brazil (São Paulo, Rio de Janeiro and Belo Horizonte) between the period 2009-2017. The results point out that each local market has the determining power in price formation. However, an important result of the study was to verify transmission relationship between cities.

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Author Biographies

  • Jadson Pessoa, UFMA

    Professor in the Department of Economics at the Federal University of Maranhão (UFMA).  E-mail: jadson.pessoa@ufma.br

  • Sérgio Rivero, UFCG

    Professor of the Academic Unit of Economics at the Federal University of Campina Grande (UFCG). E-mail:   sergio.medeiros@professor.ufcg.edu.br

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Published

2024-12-20

Issue

Vol. 39 No. 2 (2024)

Section

Artigos

License

Copyright on any open access article published by “Revista Economia Ensaios” is retained by the author(s). Authors grant “Revista Economia Ensaios” the right to first publish the article, and also grant any third party the right to use the article freely, in educational and non-commercial applications, so long as its integrity is kept and authors and citation details are identified.

How to Cite

PESSOA, Jadson; RIVERO, Sérgio. Co-movement of real estate prices: a study of Brazil’s three largest cities. Revista Economia Ensaios, Uberlândia, Minas Gerais, Brasil, v. 39, n. 2, 2024. DOI: 10.14393/REE-v39n2a2024-68400. Disponível em: https://seer.ufu.br/index.php/revistaeconomiaensaios/article/view/68400. Acesso em: 26 dec. 2025.