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The treatment of housing co-operatives in a house price index

Author

Listed:
  • Evangelista, Rui
  • Santos, Daniel

Abstract

Housing co-operatives, also known as “tenant-owner co-operative housing”, provide an alternative to both renting and owning a dwelling. As an indirect form of ownership, it poses some conceptual and practical issues to anyone aiming at compiling a price index covering all forms of own-occupied housing. Starting from the position that these co-operatives provide a type of tenure similar to owner- occupied housing, this paper provides some practical guidance on the way they can be treated in the compilation of a house price index. An empirical bootstrap study, based on advertised co-operative flats in Oslo, supports the proposals done in this paper. To our knowledge, this is the first time such a study is carried out in this context.

Suggested Citation

  • Evangelista, Rui & Santos, Daniel, 2012. "The treatment of housing co-operatives in a house price index," MPRA Paper 42200, University Library of Munich, Germany.
    • Handle: RePEc:pra:mprapa:42200
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    More about this item

    Keywords

    Housing co-ops; House Price Indexes; Owner-occupied housing; Bootstrap;
    All these keywords.

    JEL classification:

    • C43 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods: Special Topics - - - Index Numbers and Aggregation
    • E31 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Price Level; Inflation; Deflation

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