engleski

Housing affordability levels in selected European countries: Hierarchical clustering approach

In this paper, after data exploration, the cluster analysis is used to identify which of the selected 8 European countries have similar housing affordability, measured by seven indicators: Price to income ratio ; Gross rental yield city centre ; Gross rental yield outside of centre ; Price to rent ratio city centre ; Price to rent ratio outside of city centre ; Mortgage as a percentage of income and Affordability index. The results of the analysis have shown that there is a substantial difference in the housing affordability levels between analysed groups of European Union and Western Balkan countries.

housing affordability indicators ; hierarchical clustering ; Ward’s linkage method ; squared Euclidean distances ; Western Balkan countries

Ovaj rad je podržan od strane Hrvatske zaklade za znanost kao dio znanstvenog projekta „Statistical Modelling for Response to Crisis and Economic Growth in Western Balkan Countries“ (STRENGTHS) ; Broj projekta: HRZZ-IP-2013-11-9402, Voditeljica: prof. dr. sc. Ksenija Dumičić. Zbornik radova je citiran u sljedećim znanstvenim bazama: ISI (Index to Scientific & Technical Proceedings on CD-ROM and ISI/ISTP&B online database), Current Mathematical Publications, Mathematical Review, MathSci, Zentralblatt für Mathematic / Mathematics Abstracts, MATH on STN International, CompactMath, INSPEC, Journal of Economic Literature.