Comparison of housing market sustainability in European countriesbased on multiple criteria assessment

Abstract

tThe aim of this research is to assess the sustainability of the Estonian housing market, which is character-ized as owner-occupied, in comparison with other EU countries in the light of different socio-economicindicators. For this purpose a method of Multiple Criteria Complex Proportional Evaluation (COPRAS)was used. In order to perform integrated analysis of housing market sustainability the Decision SupportSystem for Housing Sustainability Assessment (DSS-HS) was developed. This system enables the perfor-mance of multiple criteria assessment of housing market sustainability in selected countries according tosix criteria groups (general economic, housing stock, housing affordability, population and social condi-tions, housing quality and environmental quality). The analysis of ranking and assessment results allowsrecommendations to be made for improving the indicators in order to increase housing market sus-tainability. A case study presents a practical application of the proposed methodology. It introducesthe DSS-HS system, calculation results, conclusions and recommendations based on an assessment ofEstonian housing market sustainability in comparison to other selected countries.