Since the founding of NCREIF almost three decades ago statistical methodologies useful for investment performance index construction have advanced dramatically, notably including developments such as the repeated-measures regression (RMR) and related noise-filtering techniques. In recent years,...

This paper surveys some of the major technical issues in the design and construction of real estate research indices, both appraisal-based and transactions-based. The paper considers property sampling issues, differences between transaction prices, market values, and appraised values, the...

In U.S. commercial real estate markets, a single index product produced by the National Council of Real Estate Investment Fiduciaries (NCREIF) has been used for both asset class research and for agent evaluation benchmarking. While the NCREIF Index is an invaluable tool for the U.S. real estate...