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Towards a Real Estate Monitoring Information System in Romania

Author

Listed:
  • Paul de Vries

    (Delft University of Technology, The Netherlands)

  • Robbert Faber

    (Cadastre, Land Registry and Mapping Agency, Kadaster International)

Abstract

This paper examines the construction of real estate databases and the valuation of properties in Buzau, Romania. One of the criteria for candidate states for EU membership is an effective monitoring system for the land and real estate markets. The objective of this paper is twofold. First, the development of a set of databases, procedures and guidelines that enables a valuation process on the Romanian real estate market and secondly, using those databases, to gain insight into the real market value of recently sold properties. We use the observations of estate agents and banks starting in May 2007. Using hedonic regression, with house and neighbourhood characteristics, we estimate the house prices.

Suggested Citation

  • Paul de Vries & Robbert Faber, 2009. "Towards a Real Estate Monitoring Information System in Romania," Romanian Economic Journal, Department of International Business and Economics from the Academy of Economic Studies Bucharest, vol. 12(32), pages 187-214, (2).
    • Handle: RePEc:rej:journl:v:12:y:2009:i:32:p:187-214
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    References listed on IDEAS

    as
    1. Allen, Robert C, 1982. "The Efficiency and Distributional Consequences of Eighteenth Century Enclosures," Economic Journal, Royal Economic Society, vol. 92(368), pages 937-953, December.
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