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Titel
The 2015 European refugee crisis and residential housing rents in Germany / Kathleen Kürschner Rauck/Michael Kvasnicka
VerfasserKürschner Rauck, Kathleen ; Kvasnicka, Michael
ErschienenMagdeburg : Otto-von-Guericke-Universität Magdeburg, Fakultät für Wirtschaftswissenschaft, Der Dekan, [2018]
Umfang1 Online-Ressource (31 Seiten, 10,78 MB) : Diagramm
SpracheEnglisch
SerieWorking paper series ; no. 2018, 13
URNurn:nbn:de:gbv:3:2-100891 
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The 2015 European refugee crisis and residential housing rents in Germany [10.78 mb]
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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.