The Application of the Time Dummy Variable Method for Calculating the Hedonic Index of Housing Prices at Mid-Size Markets

Krzysztof Nowak
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Krzysztof Nowak: absolwent studiów doktoranckich na Uniwersytecie Ekonomicznym w Krakowie

World of Real Estate Journal (Swiat Nieruchomosci), 2015, issue 91, 5-12

Abstract: Over the last few years there have been rapid changes on the Polish real estate market. Significant price fluctuations have emphasised the need for the implementation of new tools to measure changes in the housing market. Most of housing market articles which appear in the media are based on the calculation of average or median prices per sqm. However, these measures do not include the quality adjustment of tested goods, which in turn is an advantage of hedonic price indices. In the paper, the application of the time dummy variable methods for calculating the hedonic index of housing prices was examined, using the data for the city of Rzeszów.

Keywords: hedonic housing price index; time dummy variable method; housing prices; housing market (search for similar items in EconPapers)
JEL-codes: R31 (search for similar items in EconPapers)
Date: 2015
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Persistent link: https://EconPapers.repec.org/RePEc:kra:journl:y:2015:i:91:p:5-12

DOI: 10.14659/worej.2015.91.01

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