Construction of a transaction based price index for the Paris housing market
||Sebastian, Steffen; Maurer, R. and Pitzer, Martin
||Construction of a transaction based price index for the Paris housing market
||8th European Real Estate Society Conference (26-29 June 2001) Alicante, Spain
||In this paper, we calculate a transaction based price index for apartments in Paris (France). The heterogeneous character of real estate is taken into account by using a multiple regression model. The functional form is specified using a general Box/Cox-function. The data base covers about 65% of all transactions of the Paris housing market in 1990-1999. Correction for incomplete data leads to a sample of 84 686 transactions. This sample is by far the largest ever used in comparable studies, and is therefore internationally a unique data coverage for a housing market.
||Real estate investments, hedonic, index construction, Box/Cox-transformation.
||file.pdf (317,577 bytes)
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