Designing a price index for the Spanish commercial real estate market

Matías Lamas and Sara Romaniega
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Sara Romaniega: European Central Bank

No 2203, Occasional Papers from Banco de España

Abstract: This paper proposes a price index for the Spanish commercial real estate (CRE) market and its main segments. No official price indices currently exist for these assets and non-official statistics are thin on the ground and offer limited coverage. The estimated index fills this statistical gap, providing for enhanced monitoring of CRE market developments. The price indicator draws on the methodology used to calculate the Spanish National Statistics Institute’s housing market price indices, but factoring in certain elements specific to the CRE sector. Various alternative indices are also considered, although the indicator proposed is that which strikes the best balance between the different statistical properties analysed here.

Keywords: commercial real estate market; price indices; hedonic regression modela (search for similar items in EconPapers)
JEL-codes: R33 (search for similar items in EconPapers)
Pages: 32 pages
Date: 2022-03
New Economics Papers: this item is included in nep-ban and nep-ure
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https://www.bde.es/f/webbde/SES/Secciones/Publicac ... 22/Files/do2203e.pdf First version, March 2022 (application/pdf)
https://www.bde.es/f/webbde/SES/Secciones/Publicac ... s/22/Fich/do2203.pdf Spanish version (application/pdf)

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Persistent link: https://EconPapers.repec.org/RePEc:bde:opaper:2203e

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