2026-06-06T22:39:25Zhttps://docta.ucm.es/rest/oai/request

oai:docta.ucm.es:20.500.14352/1245712025-10-08T00:07:09Zcom_20.500.14352_14col_20.500.14352_17

Fernandez Perez, Adrian Gómez Puig, Marta 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 open access Hot property: a spatial analysis of temperature and housing prices in Spain working paper