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Hedonic Regressions and the Decomposition of a House Price index into Land and Structure Components

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 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 builder’s hedonic regression model was compared with the results for traditional logarithmic hedonic regression models.

Keywords: House price indexes; land and structure components; time dummy hedonic regressions; Fisher ideal indexes. (search for similar items in EconPapers)
JEL-codes: C2 C23 C43 D12 E31 R21 (search for similar items in EconPapers)
Pages: 45 pages
Date: 2011-04-05, Revised 2011-04-05
New Economics Papers: this item is included in nep-agr and nep-ure
References: Add references at CitEc
Citations: View citations in EconPapers (26)

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Journal Article: Hedonic Regressions and the Decomposition of a House Price Index into Land and Structure Components (2015) Downloads
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Persistent link: https://EconPapers.repec.org/RePEc:ubc:bricol:erwin_diewert-2011-8

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