2026-06-07T01:37:52Zhttps://docta.ucm.es/rest/oai/requestoai:docta.ucm.es:20.500.14352/1245712025-10-08T00:07:09Zcom_20.500.14352_14col_20.500.14352_17
Docta Complutense
author
Fernandez Perez, Adrian
author
Gómez Puig, Marta
author
Sosvilla Rivero, Simón Javier
2025-10-07T09:20:45Z
2025-10-07T09:20:45Z
2025
https://hdl.handle.net/20.500.14352/124571
2341-2356
https://www.ucm.es/icae/working-papers
This study examines the impact of extreme temperatures on housing price dynamics in Spain, considering both direct and indirect effects across geographic space. Using panel data at the provincial level and a spatial econometric model, we find that an increase in the number of days with maximum temperatures exceeding 35 °C (95oF) over the past year is significantly associated with a decline in both sale and rental prices within the affected province. However, we also identify a positive indirect effect on housing markets in more distant provinces, particularly in the rental sector, consistent with a pattern of temperature-induced house price premium in cooler regions. These findings highlight the importance of incorporating climate-related factors into real estate market analysis and the design of adaptation policies.
eng
Hot property: a spatial analysis of temperature and housing prices in Spain
working paper
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URL
https://docta.ucm.es/bitstreams/de59ba52-de02-4b30-92b6-c84466a2a64e/download
File
MD5
3bc0ecd23499fe282cf71c7b89710dce
1210674
application/pdf
Hot property.pdf