We use a large dataset of land sales dating back to the mid-1990s to construct land price indexes for 23 MSAs in the United States and for the aggregate of those MSAs. The price indexes show a dramatic increase in both commercial and residential land prices over several years prior to their peak...

This study examines the feasibility of constructing reliable commercial property price indices using property tax records. We employ the Clapp and Giacotto (1992) assessed-value method to estimate price indices for commercial properties in Florida. The estimated Florida commercial property price...

Using data on a large sample of land transactions, this paper develops quarterly national land price indices for residential, commercial, and industrial land use categories over the twenty year period from 1991 to 2009. We find significant differences in variability across land uses, with...

Based on the quarterly actual rental income of over 9,000 NCREIF commercial properties during 2001Q2-2010Q2, we construct a commercial real estate rental index using a dynamic panel data model. The rental index we construct captures the market-wide fluctuations in rental income, and our model...

Of the top ten global commercial property markets, London's has had the highest translation turnover for the past decade according to Real Capital Analytics. Its prime real estate is part of every major European and US institutional investor's portfolio and London's market has the most developed...

The compilation of commercial property price indices is a big challenge. In Germany, substantive data gaps prevent the calculation of official figures by the national statistical authority. By contrast, policymakers urge for timely, reliable and comprehensive data. In this paper, proposals are...

This paper concerns the estimation of granular property price indices in commercial real estate and residential markets. We specify and apply a repeat sales model with multiple stochastic log price trends having a hierarchical additive structure: One common log price trend and cluster specific...

This article reviews the state of the art in real estate price indexing and the state of knowledge about real estate price dynamics, with a focus on investment property, or income-generating commercial property. Investment properties form a large component of the national wealth and of capital...