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The Decomposition of a House Price index into Land and Structures Components: A Hedonic Regression Approach

Jan de Haan, Walter Diewert and Rens Hendriks

Economics working papers from Vancouver School of Economics

Abstract: 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 proved necessary to use a nonlinear regression model using data that covered multiple time periods. It also proved to be necessary to impose some monotonicity restrictions on the price of land and structures. The results of the additive model were compared with the results of a traditional logarithmic hedonic regression model.

Keywords: Property price indexes; hedonic regressions; repeat sales method; rolling year indexes; Fisher ideal indexes. (search for similar items in EconPapers)
JEL-codes: C2 C23 C43 D12 E31 R21 (search for similar items in EconPapers)
Pages: 29 pages
Date: 2010-01-28, Revised 2010-07-13
New Economics Papers: this item is included in nep-agr and nep-ure
References: Add references at CitEc
Citations: View citations in EconPapers (6)

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Related works:
Journal Article: The Decomposition of a House Price Index into Land and Structures Components: A Hedonic Regression Approach (2011)
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Persistent link: https://EconPapers.repec.org/RePEc:ubc:bricol:erwin_diewert-2010-1

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