A new pricing model for the real estate market in Rogaland based on the pricing model by Jacobsen and Naug

Abstract

This Master’s thesis in Financial Economics marks the end of our education at the Norwegian School of Economics. It has been an instructive, challenging and exciting process. We would like to thank our supervisor, Associate Professor Francisco Santos for his great advices and powerful insights, thoughtful feedback and continuous support throughout this semester. Further, we are very grateful to Sparebank 1 SR-bank, and especially chief economist Kyrre Martinius Knudsen for granting us with both data material and insight that has been vital to our thesis. Professor Ola Grytten has also been very helpful with insights on both the real estate market and Jacobsen and Naug’s pricing model. Professor Gernot Peter Doppelhofer has furthermore provided us with a great understanding of the theory behind error correction models. Finally, we would like to thank our family and friends for their support, optimism and continued encouragement.