TY - JOUR A1 - Just, Tobias A1 - Heinrich, Michael A1 - Maurin, Mark Andreas A1 - Schreck, Thomas T1 - Foreclosure discounts for German housing markets JF - International Journal of Housing Markets and Analysis N2 - Purpose This paper aims to investigate the foreclosure discount for the German residential market in the years from 2008 to 2011. Design/methodology/approach The determinants of the foreclosure discount are estimated in a hedonic price model. The analysis is based on a unique data set compiled from three different data sources with 135,000 foreclosed properties. Findings The findings reveal that residential units in foreclosures are sold at a discount of 19 per cent compared to residential units with similar characteristics that are not in foreclosure. Second, a regional pattern can be observed, with discounts being negatively correlated to unemployment risk and liquidity. Third, the model with interaction terms shows that foreclosure discounts are linked to specific property characteristics. Fourth, these object-related risks are typically smaller than regional risks or locational risks. Research limitations/implications Given the highly fragmented system of Gutachterausschusse in Germany, who are responsible for collecting transaction data, we were not able to directly analyze transaction data, but only a proxy for this price information. Practical implications The results can be important for financial institutions that are trying to assess the risk of lending for a specific object in a specific location. So far, banks primarily try to assess the default risk of private lenders by analyzing the debtor's financial position and the quality of the property. The analysis provides insights into which characteristics of a property might imply additional risk, and in which region these risks are biggest. Originality/value To the best of the authors' knowledge, this is the first attempt to analyze the foreclosure discount for the German housing market. KW - Characteristics of a property KW - COST KW - Distressed assets KW - Foreclosure discount KW - German regions KW - Hedonic house price model KW - Liquidity KW - PRICE KW - SALES KW - TRANSACTIONS Y1 - 2019 U6 - https://doi.org/10.1108/IJHMA-12-2018-0106 VL - 13 IS - 2 SP - 143 EP - 163 PB - Emerald ER - TY - JOUR A1 - Broser, Christian A1 - Falter, Thomas A1 - Ławrowski, Robert Damian A1 - Altenbuchner, Amelie A1 - Vögele, Daniel A1 - Koss, Claus A1 - Schlampp, Matthias A1 - Dunnweber, Jan A1 - Steffens, Oliver A1 - Heckner, Markus A1 - Jaritz, Sabine A1 - Schiegl, Thomas A1 - Corsten, Sabine A1 - Lauer, Norina A1 - Guertler, Katherine A1 - Koenig, Eric A1 - Haug, Sonja A1 - Huber, Dominik A1 - Birkenmaier, Clemens A1 - Krenkel, Lars A1 - Wagner, Thomas A1 - Justus, Xenia A1 - Saßmannshausen, Sean Patrick A1 - Kleine, Nadine A1 - Weber, Karsten A1 - Braun, Carina N. A1 - Giacoppo, Giuliano A1 - Heinrich, Michael A1 - Just, Tobias A1 - Schreck, Thomas A1 - Schnabl, Andreas A1 - Gilmore, Amador Téran A1 - Roeslin, Samuel A1 - Schmid, Sandra A1 - Wellnitz, Felix A1 - Malz, Sebastian A1 - Maurial, Andreas A1 - Hauser, Florian A1 - Mottok, Jürgen A1 - Klettke, Meike A1 - Scherzinger, Stefanie A1 - Störl, Uta A1 - Heckner, Markus A1 - Bazo, Alexander A1 - Wolff, Christian A1 - Kopper, Andreas A1 - Westner, Markus A1 - Pongratz, Christian A1 - Ehrlich, Ingo A1 - Briem, Ulrich A1 - Hederer, Sebastian A1 - Wagner, Marcus A1 - Schillinger, Moritz A1 - Görlach, Julien A1 - Hierl, Stefan A1 - Siegl, Marco A1 - Langer, Christoph A1 - Hausladen, Matthias A1 - Schreiner, Rupert A1 - Haslbeck, Matthias A1 - Kreuzer, Reinhard A1 - Brückl, Oliver A1 - Dawoud, Belal A1 - Rabl, Hans-Peter A1 - Gamisch, Bernd A1 - Schmidt, Ottfried A1 - Heberl, Michael A1 - Gänsbauer, Bianca A1 - Bick, Werner A1 - Ellermeier, Andreas A1 - Monkman, Gareth J. A1 - Prem, Nina A1 - Sindersberger, Dirk A1 - Tschurtschenthaler, Karl A1 - Aurbach, Maximilian A1 - Dendorfer, Sebastian A1 - Betz, Michael A. A1 - Szecsey, Tamara A1 - Mauerer, Wolfgang A1 - Murr, Florian ED - Baier, Wolfgang T1 - Forschung 2018 T3 - Forschungsberichte der OTH Regensburg - 2018 KW - Forschung KW - Forschungsbericht Y1 - 2018 U6 - http://nbn-resolving.de/urn/resolver.pl?urn:nbn:de:bvb:898-opus4-13826 SN - 978-3-9818209-5-9 CY - Regensburg ER -