Hedonic Regressions and the Decomposition of a House Price index into Land and Structure Components
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 builderâ€™s hedonic regression model was compared with the results for traditional logarithmic hedonic regression models.
|Date of creation:||05 Apr 2011|
|Date of revision:||05 Apr 2011|
|Contact details of provider:|| Web page: http://www.economics.ubc.ca/|
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