Price Indexes for Multi-Dwelling Properties in Sweden

Lennart Berg

Journal of Real Estate Research, 2005, vol. 27, issue 1, 47-82

Abstract: The econometric test in this paper indicates that standard property and municipality attributes are important determinants of sales prices for multi-dwelling and commercial buildings (MDCBs) in Sweden. Spatial econometric techniques were used to determine that spatial specified regressions improved the models' explanatory power. The constant quality price for a model estimated with OLS is roughly one percentage point higher than for a model controlling for spatial autocorrelation. When the constant quality price trend is estimated on a yearly basis, there are hardly any differences between the estimated parameters, notwithstanding if all MDCBs are in the sample or if the sample is split into submarkets. However, estimating models with a quarterly constant quality price trend to some extent shows different price trends for the three submarkets.

Date: 2005
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DOI: 10.1080/10835547.2005.12091150

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