Comparison of housing market sustainability in European countries based on multiple criteria assessment

The aim of this research is to assess the sustainability of the Estonian housing market, which is characterized as owner-occupied, in comparison with other EU countries in the light of different socio-economic indicators. 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 Support System for Housing Sustainability Assessment (DSS-HS) was developed. This system enables the performance of multiple criteria assessment of housing market sustainability in selected countries according to six criteria groups (general economic, housing stock, housing affordability, population and social conditions, housing quality and environmental quality). The analysis of ranking and assessment results allows recommendations to be made for improving the indicators in order to increase housing market sustainability. A case study presents a practical application of the proposed methodology. It introduces the DSS-HS system, calculation results, conclusions and recommendations based on an assessment of Estonian housing market sustainability in comparison to other selected countries. (C) 2014 Elsevier Ltd. All rights reserved.