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Construction of a transaction based price index for the Paris housing market

Author

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  • Steffen Sebastian
  • R. Maurer
  • Martin Pitzer

Abstract

In this paper, we calculate a transaction based price index for apartments in Paris (France). The heterogeneous character of real estate is taken into account by using a multiple regression model. The functional form is specified using a general Box/Cox-function. The data base covers about 65% of all transactions of the Paris housing market in 1990-1999. Correction for incomplete data leads to a sample of 84†686 transactions. This sample is by far the largest ever used in comparable studies, and is therefore internationally a unique data coverage for a housing market.

Suggested Citation

  • Steffen Sebastian & R. Maurer & Martin Pitzer, 2001. "Construction of a transaction based price index for the Paris housing market," ERES eres2001_276, European Real Estate Society (ERES).
    • Handle: RePEc:arz:wpaper:eres2001_276
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    References listed on IDEAS

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    More about this item

    JEL classification:

    • R3 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Real Estate Markets, Spatial Production Analysis, and Firm Location

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