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The Decomposition of a House Price Index into Land and Structures Components: A Hedonic Regression Approach

Walter Diewert, Jan de HAAN and Rens Hendriks

The Valuation Journal, 2011, vol. 6, issue 1, 58-105

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 proved necessary to use a nonlinear regression model using data that covered multiple time periods. It also proved to be necessary to impose some monotonicity restrictions on the price of land and structures. The results of the additive model were compared with the results of a traditional logarithmic hedonic regression model.

JEL-codes: C2 C23 C43 D12 E31 R21 (search for similar items in EconPapers)
Date: 2011
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Citations: View citations in EconPapers (36)

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Handle: RePEc:vaj:journl:v:6:y:2011:i:1:p:58-105