A re-assessment of house price indices: evidence from the Spanish market

Please use this identifier to cite or link to this item: http://hdl.handle.net/10045/84368
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dc.contributorEconomía de la Vivienda y Sector Inmobiliario (ECOVISI)es_ES
dc.contributor.authorTaltavull de La Paz, Paloma-
dc.contributor.authorMcGreal, Stanley-
dc.contributor.otherUniversidad de Alicante. Departamento de Análisis Económico Aplicadoes_ES
dc.contributor.otherUniversidad de Alicante. Instituto Interuniversitario de Economía Internacionales_ES
dc.identifier.citationInternational Journal of Strategic Property Management. 2019, 23(1): 23-35. doi:10.3846/ijspm.2019.6366es_ES
dc.identifier.issn1648-715X (Print)-
dc.identifier.issn1648-9179 (Online)-
dc.description.abstractThis paper using evidence from the Spanish housing market contributes significantly to the debate concerning the different results obtained from house price indices depending on the method used to build the index. Utilising a large database over the period 1994 to 2012, the paper constructs a time dummy hedonic index (HD) and an imputed hedonic index using a Laspeyres approach (HI), and compares the different effect on the price index evolution. The paper discusses control by quality changes and identifies those attributes experiencing structural changes over the analysis period, identified by the HI index but not by the HD index. Results indicate that changes in quality stem from socio-demographic conditions rather than changes to housing quality (other than size). The paper also shows that improvements in neighbourhood quality rather than change in a ‘typical house’ affects house price and argues that these considerations are important in both the method selected to calculate house price indices and the application of the methodology to estimate price changes.es_ES
dc.publisherVGTU Presses_ES
dc.rights© 2018 The Author(s). Published by VGTU Press. This is an Open Access article distributed under the terms of the Creative Commons Attribution License (http://creativecommons.org/licenses/by/4.0/), which permits unrestricted use, distribution, and reproduction in any medium, provided the original author and source are credited.es_ES
dc.subjectPrice indexes_ES
dc.subjectHousing marketes_ES
dc.subjectHedonic modelses_ES
dc.subject.otherEconomía Aplicadaes_ES
dc.titleA re-assessment of house price indices: evidence from the Spanish marketes_ES
Appears in Collections:INV - ECOVISI - Artículos de Revistas

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