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Paper eres2001_285:
Comparative Analysis of Several Models of Price Indices in Real Estate Transactions

id eres2001_285
authors Thion, Bernard; Bouzdine Chameeva, Tatiana
year 2001
title Comparative Analysis of Several Models of Price Indices in Real Estate Transactions
source 8th European Real Estate Society Conference (26-29 June 2001) Alicante, Spain
summary Annual sector indices are susceptible to price differences provoked by major environmental changes. Therefore, it is really important to take into consideration different situations and apply an appropriate method for constructing WLS estimator. The objective of our research is to compare several well-known methods (in the framework of the repeat sales model) used for constructing house price indices based on unbiased estimators. We intend to show that a weighted least squares estimator (WLS) for the log price index can be improved due to the introduction of time dependency. We tend even to downweight housing units that have been held for a long time more than theory suggests. We suggest that there exist a pragmatic reason for doing this long hold prices are differentially risky because of unknown structure changes.
keywords Real estate industry, house price indices, repeat sales methodology
series ERES:conference
content file.pdf (562,514 bytes)
discussion No discussions. Post discussion ...
ratings
session Housing prices and Price Index II
last changed 2009/07/10 18:07
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