6533b854fe1ef96bd12ae038
RESEARCH PRODUCT
Repeat Assessed Values Model for Housing Price Index
Marco SimonottiMarina CiunaManuela De RuggieroManuela CariniFrancesca Salvosubject
price index numbers050208 financeIndex (economics)r30Series (mathematics)05 social sciencesHD1361-1395.5appraisal system approachReal estatePrice modelhedonic pricesreal estate marketPrice index0502 economics and businessEconometricsEconomics050207 economicsTime rangeReal estate businessdescription
Abstract This study proposes an innovative methodology, named Repeat Appraised Price Model (RAV), useful for determining the price index numbers for real estate markets and the corresponding index numbers of hedonic prices of main real estate characteristics in the case of a lack of data. The methodological approach proposed in this paper aims to appraise the time series of price index numbers. It integrates the principles of the method of repeat sales with the peculiarities of the Hedonic Price Method, overcoming the problem of an almost total absence of repeat sales for the same property in a given time range; on the other hand, the technique aims to overcome the limitation of the repeat sales technique concerning the inability to take into account the characteristics of individual properties.
| year | journal | country | edition | language |
|---|---|---|---|---|
| 2017-12-01 | Real Estate Management and Valuation |