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Residential Property Price Indices on Small Property Markets

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  • Kokot Sebastian

    (Faculty of Economics and Management University of Szczecin, Szczecin Poland)

Abstract

There are many reasons for the fact that reliable property indices are difficult to calculate. Even though, in theory, there are several acknowledged methods of their determination, this task poses problems of various nature in practice. These problems grow when the data sets are limited, which is the case on small property markets where the number of transactions are low. The paper is an attempt to compute property price indices on the basis of a statistically smoothed series of average unit prices of residential properties sold on a small market, exemplified by the county of Łobez. Additionally, the paper discusses the problems that have emerged over the course of the study, as well as the obtained results, as viewed in the context of the general situation on the property market.

Suggested Citation

  • Kokot Sebastian, 2017. "Residential Property Price Indices on Small Property Markets," Real Estate Management and Valuation, Sciendo, vol. 25(1), pages 5-18, March.
    • Handle: RePEc:vrs:remava:v:25:y:2017:i:1:p:5-18:n:1
    DOI: 10.1515/remav-2017-0001
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    References listed on IDEAS

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    1. Guo, Xiaoyang & Zheng, Siqi & Geltner, David & Liu, Hongyu, 2014. "A new approach for constructing home price indices: The pseudo repeat sales model and its application in China," Journal of Housing Economics, Elsevier, vol. 25(C), pages 20-38.
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    4. Marc Francke, 2010. "Repeat Sales Index for Thin Markets," The Journal of Real Estate Finance and Economics, Springer, vol. 41(1), pages 24-52, July.
    5. Robert Hill, 2011. "Hedonic Price Indexes for Housing," OECD Statistics Working Papers 2011/1, OECD Publishing.
    6. Tom Nicholas & Anna Scherbina, 2013. "Real Estate Prices During the Roaring Twenties and the Great Depression," Real Estate Economics, American Real Estate and Urban Economics Association, vol. 41(2), pages 278-309, June.
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