New methodology for constructing real estate price indices applied to the Singapore residential market

• Main Authors: JIANG, Liang, Peter C. B. PHILLIPS, Jun YU
• Format: text
• Language: English
• Published: Institutional Knowledge at Singapore Management University 2015
• Subjects: Cooling measures; Explosive behavior; Hedonic models; Prediction; Real estate price index; Repeat sales; Asian Studies; Econometrics; Real Estate
• Online Access: https://ink.library.smu.edu.sg/soe_research/1851; https://ink.library.smu.edu.sg/context/soe_research/article/2850/viewcontent/NewMethodologyRealEstatePriceIndicesSingapore_2015May.pdf
• Institution: Singapore Management University

This paper develops a new methodology for constructing a real estate price index that utilizes all transaction price information, encompassing both single-sales and repeat-sales. The method is less susceptible to specification error than standard hedonic methods and is not subject to the sample sele...