What drives housing price dynamics in Greece: New evidence from asymmetric ARDL cointegration

► We study the dynamics of Greek house prices and selected macroeconomic fundamentals. ► We apply the asymmetric ARDL cointegration methodology (Shin et al., 2011). ► Ignoring the intrinsic nonlinearities may lead to misleading inference. ► The response of house prices is asymmetric in the long- and short-run time horizons.