Residential market at a time of financial crisis

The topic of this bachelor thesis is the residential market of the Czech Republic and changes of housing construction at a time of financial crisis. Residential market can be affected not only by financial crisis, but also by other factors that are not influenced by economic recession. The work is firstly aimed at the change of value added tax law in 2008 and its possible impact on the number of completed dwellings. Supply and demand could be influenced not only by these changes but by uncertainty about future form of these changes, too. The second part of this work is aimed at possible impact of demographic structure on started housing construction. There are two time series that are correlated -- the number of inhabitants of the Czech Republic between the ages of 25 to 39 and the number of started dwellings. The results show that newly started housing construction is not depended on the number of inhabitants at determined age group in conditions of the Czech Republic. The conclusion of this thesis on terms of chosen assumptions and used statistical data is that the changing number of started dwellings cannot be caused by development in the demographic structure