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The recent booms in the global housing markets have been suspected to be bubbles owing to the weak economic circumstances after the 2008 financial crisis. While the behavioral economics stresses the role of irrational human psychology in the housing market, this study focuses on the demographic factors which can determine the scope of the housing demand. Simple plotting of some demographic categories shows that ages between 15 and 64 (working age population) as well as between 40 and 59 have similar trends to the housing price indices in representative countries in Europe and East Asia, UK, France, Germany, China, Japan and Korea.

Demographic structure and housing prices: East Asia and Europe