A bubble in the housing market? Analysis based on the repeat-sales method for the secondary market in Moscow and Saint Petersburg

Anastasia Kosyakina

Applied Econometrics, 2023, vol. 70, 72-88

Abstract: A modification of the repeat-sales method is proposed, which allows estimating housing price indices taking into account changes in the qualitative characteristics of the properties being sold over time, as well as limitations in Russian data. The results of evaluation of indices for Moscow and St. Petersburg are given. It is concluded that in real terms and taking into account the change in the quality of purchased objects, the price levels for the secondary housing in these cities at the end of 2021 are comparable to the level of the end of 2012.

Keywords: housing prices; secondary housing market; real estate bubbles; price indices; Case-Schiller indices. (search for similar items in EconPapers)
JEL-codes: C43 C81 R21 R32 (search for similar items in EconPapers)
Date: 2023
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Persistent link: https://EconPapers.repec.org/RePEc:ris:apltrx:0471

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