MODELLING OF PRICE INDICES IN REAL ESTATE TRANSACTIONS

2000 ◽  
Keyword(s):  
Real Estate ◽  
Price Indices

scholarly journals Regional Real Estate Price Indices for Germany, 2008 – 2019: RWI–GEO–REDX

2020 ◽  
Vol 0 (0) ◽  
Author(s):  
Larissa Klick ◽  
Sandra Schaffner
Keyword(s):  
Real Estate ◽  
Price Indices ◽  
Real Estate Price ◽  
Real Estate Price Indices

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

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.

Temporal and distribution biases in real estate transaction based price indices

2000 ◽  
Vol 17 (4) ◽  
pp. 293-310 ◽  
Author(s):  
Seow Eng Ong
Keyword(s):  
Real Estate ◽  
Price Indices

Construction of real estate price indices for developing housing markets

2017 ◽  
Vol 10 (3) ◽  
pp. 371-383 ◽  
Author(s):  
Anthony Owusu-Ansah ◽  
William Mark Adolwine ◽  
Eric Yeboah
Keyword(s):  
Real Estate ◽  
House Price ◽  
Temporal Aggregation ◽  
Price Indices ◽  
Content Type ◽  
Real Estate Price ◽  
Aggregation Effect ◽  
Developing Markets ◽  
House Price Indices ◽  
Real Estate Price Indices

Purpose The purpose of this paper is to test whether temporal aggregation matters when constructing hedonic house price indices for developing markets using Ghana as a case study. Design/methodology/approach Monthly, quarterly, semi-yearly and yearly hedonic price indices are constructed and six null hypotheses are tested using the F-ratios to examine the temporal aggregation effect. Findings The results show that temporal aggregation may not be a serious issue when constructing hedonic house price indices for developing markets as a result of the smaller sample size which these markets normally have. At even 10 per cent significance level, none of the F-ratios estimated is statistically significant. Analysis of the mean returns and volatilities reveal that indices constructed at the lower level of temporal aggregation are very volatile, suggesting that the volume of transactions can affect the level of temporal aggregation, and so, the temporal aggregation level should not be generalised, as is currently observed in the literature. Originality/value The diversification importance of real estate and the introduction of real estate derivatives and home equity insurance as financial products call for the construction of robust and accurate real estate indices in all markets. While almost all empirical research recommends real estate price indices to be conducted at the lower level of temporal aggregation, these studies are largely conducted in developed markets where transactions take place frequently and large transaction databases exist. Unfortunately, little is known about the importance of temporal aggregation effect when constructing indices for developing real estate markets. This paper contributes to fill these gaps.

Real Estate Price Indices in Hong Kong

2005 ◽  
Vol 13 (3) ◽  
pp. 337-356 ◽  
Author(s):  
K. Chau ◽  
S. Wong ◽  
C. Yiu ◽  
H. Leung
Keyword(s):  
Hong Kong ◽  
Real Estate ◽  
Price Indices ◽  
Real Estate Price ◽  
Real Estate Price Indices

scholarly journals International Real Estate Review

2020 ◽  
Vol 23 (2) ◽  
pp. 235-266
Author(s):  
Yuming Li ◽  
◽  
Jing Yang ◽  
Keyword(s):  
Real Estate ◽  
Single Family ◽  
Price Indices ◽  
Momentum Strategy ◽  
Momentum Strategies ◽  
Momentum Profits ◽  
Stock Portfolios ◽  
Construction Methods ◽  
Asset Portfolio

We investigate the profitability of momentum strategies in the market for single-family homes by using 10 city-level Case-Shiller home price indices (HPIs). Compared with the momentum strategies based on the Fama-French 10-industry portfolios of stocks, the profits from the single-family HPIs are more statistically significant, less sensitive to the construction methods of the momentum strategies and more correlated across different strategies. The momentum profits from the HPIs tend to be counter-cyclical, unlike the pro-cyclical behaviors of the momentum profits from stock portfolios. The differences in the momentum profits with HPIs and stocks indicate that a momentum strategy with the former can help diversify the risk in the asset portfolio of investors.

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