Construction of a Transaction Based Real Estate Index for the Paris Housing Market

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 an econometric model. The functional form is specified by using a general Box/Cox-function. The data base covers about 65% of the 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 an unique data coverage for housing markets.

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Year of publication:	2001-03-16
Authors:	Maurer, Raimond ; Pitzer, Martin ; Sebastian, Steffen
Institutions:	Sonderforschungsbereich 504 "Rationalitätskonzepte, Entscheidungsverhalten und ökonomische Modellierung", Abteilung für Volkswirtschaftslehre ; Sonderforschungsbereich 504, University of Mannheim

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Series:	Sonderforschungsbereich 504 Publications.
Type of publication:	Book / Working Paper
Notes:	This paper has been developed at The Research Program for Real Estate Finance, a conjoint research program at the universities of Frankfurt/Main and Mannheim (Germany). Financial support by Deutsche Forschungsgemeinschaft, SFB 504, at the University of Mannheim, iii Internationales Immobilien Institut, IVG Holding AG and Stiftung Rheinische Hypothekenbank is gratefully acknowledged. For further information see www.real-estate-finance.de. We thank Yan Wang, University of Mannheim for helpful research assistance. The authors alone are responsible for all statements and conclusions. The text is part of a series sfbmaa Number 01-17 25 pages
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10005585820