Developing Land and Structure Price Indices for Ottawa Condominium Apartments

Burnett-Isaacs Kate (), Huang Ning () and Walter Diewert
Additional contact information
Burnett-Isaacs Kate: Producer Prices Division, Statistics Canada, Ottawa, Canada, K1A 0T6.
Huang Ning: Producer Prices Division, Statistics Canada, Ottawa, Canada, K1A 0T6.

Journal of Official Statistics, 2020, vol. 36, issue 4, 763-802

Abstract: Measuring the service flow and the stock value of condominium apartments in Canada and decomposing these values into constant quality price and quantity components is important for many purposes. In addition, the System of National Accounts requires that these service flows and stock values for condos be decomposed into constant quality land and structure components. In Canada and most other countries, such a land and structure decomposition of condominium apartment sale prices does not currently exist. In this article, we provide such a decomposition of condominium apartment sales in Ottawa for the period 1996–2009. Specific attention is paid to the roles of communal land and structure space on condominium apartment unit selling prices. Key findings include methods to allocate land and building space to a single condominium unit, identifying the characteristics that best explain condominium prices, and developing an average depreciation rate for condos for the 14-year time period.

Keywords: Condominium apartment price indices; land and structure price indices; hedonic regressions; net depreciation rates; system of national accounts (search for similar items in EconPapers)
Date: 2020
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Citations: View citations in EconPapers (2)

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Related works:
Working Paper: Developing Land and Structure Price Indexes for Ottawa Condominium Apartments (2016)
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Persistent link: https://EconPapers.repec.org/RePEc:vrs:offsta:v:36:y:2020:i:4:p:763-802:n:3

DOI: 10.2478/jos-2020-0038

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