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Real Estate Price Indices and Performance: The Case of Geneva

Author

Listed:
  • Martin Hoesli
  • Philippe Favarger
  • Carmelo Giaccotto

Abstract

In this paper constant quality price indices are constructed for three categories of real estate in Geneva: apartment buildings, vacant land and condominiums. We use both the hedonic and repeat sales models to estimate the rate of price change on these three submarkets. For apartment buildings, an income series is also constructed, which makes it possible to compute total returns. The returns on real estate are then compared to those on a Geneva real estate mutual fund, on a Swiss real estate mutual funds' index, and on stocks and bonds.

Suggested Citation

  • Martin Hoesli & Philippe Favarger & Carmelo Giaccotto, 1997. "Real Estate Price Indices and Performance: The Case of Geneva," Swiss Journal of Economics and Statistics (SJES), Swiss Society of Economics and Statistics (SSES), vol. 133(I), pages 29-48, March.
    • Handle: RePEc:ses:arsjes:1997-i-3
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    Cited by:

    1. Stefan Sebastian Fahrländer, 2006. "Semiparametric Construction of Spatial Generalized Hedonic Models for Private Properties," Swiss Journal of Economics and Statistics (SJES), Swiss Society of Economics and Statistics (SSES), vol. 142(IV), pages 501-528, December.
    2. Andre Bender & Allan Din & Philippe Favarger & Martin Hoesli & Janne Laakso, 1997. "An Analysis of Perceptions Concerning the Environmental Quality of Housing in Geneva," Urban Studies, Urban Studies Journal Limited, vol. 34(3), pages 503-513, March.
    3. Dragana Djurdjevic & Christine Eugster & Ronny Haase, 2008. "Estimation of Hedonic Models Using a Multilevel Approach: An Application for the Swiss Rental Market," Swiss Journal of Economics and Statistics (SJES), Swiss Society of Economics and Statistics (SSES), vol. 144(IV), pages 679-701, December.

    More about this item

    JEL classification:

    • R20 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Household Analysis - - - General
    • R21 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Household Analysis - - - Housing Demand

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