Repeat Assessed Values Model for Housing Price Index

Carini Manuela (), Ciuna Marina (), Manuela De Ruggiero (), Salvo Francesca () and Simonotti Marco ()
Additional contact information
Carini Manuela: University of Calabria, 87036Rende (CS), Italy
Ciuna Marina: University of Palermo, 90100Palermo, Italy
Manuela De Ruggiero: University of Calabria, 87036Rende (CS), Italy
Salvo Francesca: University of Calabria, 87036Rende (CS), Italy
Simonotti Marco: University of Palermo, 90100Palermo, Italy

Real Estate Management and Valuation, 2017, vol. 25, issue 4, 25-39

Abstract: This study proposes an innovative methodology, named Repeat Appraised Price Model (RAV), useful for determining the price index numbers for real estate markets and the corresponding index numbers of hedonic prices of main real estate characteristics in the case of a lack of data. The methodological approach proposed in this paper aims to appraise the time series of price index numbers. It integrates the principles of the method of repeat sales with the peculiarities of the Hedonic Price Method, overcoming the problem of an almost total absence of repeat sales for the same property in a given time range; on the other hand, the technique aims to overcome the limitation of the repeat sales technique concerning the inability to take into account the characteristics of individual properties.

Keywords: real estate market; price index numbers; appraisal system approach; hedonic prices (search for similar items in EconPapers)
JEL-codes: R30 (search for similar items in EconPapers)
Date: 2017
References: View references in EconPapers View complete reference list from CitEc
Citations:

Downloads: (external link)
https://doi.org/10.1515/remav-2017-0027 (text/html)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:vrs:remava:v:25:y:2017:i:4:p:25-39:n:3

DOI: 10.1515/remav-2017-0027

Access Statistics for this article

Real Estate Management and Valuation is currently edited by Sabina Zrobek

More articles in Real Estate Management and Valuation from Sciendo
Bibliographic data for series maintained by Peter Golla ().