The treatment of housing co-operatives in a house price index
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.
|Date of creation:||06 Apr 2012|
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