Real Estate Price Indices and Performance: The Case of Geneva

Martin Hoesli, Philippe Favarger and Carmelo Giaccotto

Swiss Journal of Economics and Statistics (SJES), 1997, vol. 133, issue I, 29-48

Abstract: In this paper constant quality price indices are constructed for three categories of real estate in Geneva: apartment buildings, vacant land and condominiums. We use both the hedonic and repeat sales models to estimate the rate of price change on these three submarkets. For apartment buildings, an income series is also constructed, which makes it possible to compute total returns. The returns on real estate are then compared to those on a Geneva real estate mutual fund, on a Swiss real estate mutual funds' index, and on stocks and bonds.

Date: 1997
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Working Paper: Real Estate Price Indices and Performance: The Case of Geneva (1996)
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Persistent link: https://EconPapers.repec.org/RePEc:ses:arsjes:1997-i-3

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