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Hedonic Regressions and the Decomposition of a House Price index into Land and Structure Components

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Author Info

  • de Haan, Jan
  • Diewert, Erwin
  • Hendriks, Rens

Abstract

The paper uses hedonic regression techniques in order to decompose the price of a house into land and structure components using readily available real estate sales data for a Dutch city. In order to get sensible results, it was useful to use a nonlinear regression model using data that covered multiple time periods. It also proved to be necessary to impose some restrictions on the price of structures. The resulting builder’s hedonic regression model was compared with the results for traditional logarithmic hedonic regression models.

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File URL: http://faculty.arts.ubc.ca/ediewert/dp1101.pdf
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Bibliographic Info

Paper provided by Vancouver School of Economics in its series Economics working papers with number erwin_diewert-2011-8.

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Length: 45 pages
Date of creation: 05 Apr 2011
Date of revision: 05 Apr 2011
Handle: RePEc:ubc:bricol:erwin_diewert-2011-8

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Web page: http://www.economics.ubc.ca/

Related research

Keywords: House price indexes; land and structure components; time dummy hedonic regressions; Fisher ideal indexes.;

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Cited by:
  1. Wong, SK & Chau, KW & Karato, K & Shimizu, Chihiro, 2013. "Separating the Age Effect from a Repeat Sales Index: Land and Structure Decomposition," HIT-REFINED Working Paper Series 5, Institute of Economic Research, Hitotsubashi University.
  2. Alicia Rambaldi & Prasada Rao, 2011. "Hedonic Predicted House Price Indices Using Time-Varying Hedonic Models with Spatial Autocorrelation," Discussion Papers Series 432, School of Economics, University of Queensland, Australia.

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