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Property price separation between land and building components

Author

Listed:
  • Unsal Ozdilek

    (University of Quebec)

Abstract

Observed sales prices are direct references for the market value of properties, but they do not provide information about the separate values of land and building. There are different theories and methods, each one being limited in practice. This paper presents the troublesome issue of price separation and proposes a practical alternative, using detailed data from Montreal (Canada). The empirical results support the separability thesis in practice for the cases of residential properties.

Suggested Citation

  • Unsal Ozdilek, 2016. "Property price separation between land and building components," Journal of Real Estate Research, American Real Estate Society, vol. 38(2), pages 205-228.
    • Handle: RePEc:jre:issued:v:38:n:2:2016:p:205-228
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    More about this item

    JEL classification:

    • L85 - Industrial Organization - - Industry Studies: Services - - - Real Estate Services

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