International Policy Discussion in Property Price Indices

Property Price Index - Advances in Japanese Business and Economics ◽

10.1007/978-4-431-55942-9_1 ◽

2020 ◽

pp. 3-34

Author(s):

W. Erwin Diewert ◽

Kiyohiko G. Nishimura ◽

Chihiro Shimizu ◽

Tsutomu Watanabe

Keyword(s):

Price Indices ◽

International Policy ◽

Property Price ◽

Policy Discussion

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Compilation of Commercial Property Price Indices for Germany Tailored for Policy Use

Jahrbücher für Nationalökonomie und Statistik ◽

10.1515/jbnst-2019-0072 ◽

2021 ◽

Vol 0 (0) ◽

Author(s):

Thomas A. Knetsch

Keyword(s):

Time Series ◽

Real Estate ◽

Commercial Real Estate ◽

German Population ◽

Price Indices ◽

Commercial Property ◽

Price Increases ◽

Comprehensive Data ◽

Property Price ◽

Existing Data

Abstract The compilation of commercial property price indices (CPPIs) is challenging. Policymakers urge for timely, reliable and comprehensive data. In Germany, lack of data prevents the calculation of official figures by the national statistical authority. Different applications of price indices need different definitions of commercial real estate. CPPIs according to these definitions are constructed on the basis of existing data for 127 German towns and cities (that cover about one-third of German population). The overall price developments revealed by the various indices are rather similar in terms of central time series characteristics, while differences in detail can be explained by their specific compositions. Price increases for all definitions have been strongest in the seven largest cities. The definitions tend to lead to more marked differences for medium-sized towns.

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The Comparative Analysis Of Asking And Traded Price Indices In Different Floor Area Subsegments Of The Residential Property Market

Real Estate Management and Valuation ◽

10.1515/remav-2015-0021 ◽

2015 ◽

Vol 23 (3) ◽

pp. 14-25

Author(s):

Sebastian Kokot ◽

Marcin Bas

Keyword(s):

Comparative Analysis ◽

Empirical Analysis ◽

Residential Property ◽

Price Indices ◽

Property Market ◽

Floor Area ◽

Property Price

Abstract There are several acknowledged methods for determining residential property price indices. However, all of them have their drawbacks and advantages and reflect the averaged real movements of prices with varying accuracy. The paper attempts to answer the question: How faithfully do indices based on asking prices reflect the movements of traded prices? As a result we will find out whether, in the situation when property price indices cannot be determined, asking price based indices can be used instead. The paper specifies theoretical and practical aspects of constructing residential property price indices on the basis of asking and traded prices. It also contains an empirical analysis of these two index types.

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