Housing rent dynamics in Italy

Concetta Rondinelli and Giovanni Veronese

No 62, Questioni di Economia e Finanza (Occasional Papers) from Bank of Italy, Economic Research and International Relations Area

Abstract: In this paper we focus on tenant rents in Italy and compare results from several methods for the rent dynamic estimation. We first document the sources of data available and then introduce quality-adjusted techniques, which enable us to separate the price variation due to qualitative changes in housing attributes from pure price changes. Finally, we compare these measures with unconditional and matched-type price indices derived from microdata. Over the period 1998-2006, we estimate a cumulative rent increase ranging between 40 and 80%. The upper bound refers to the average dynamic for a subset of flats entering the market in a given period. The hedonic approach suggests a substantially lower overall growth in tenant rent, around 40% for the same period.

Keywords: Hedonic regressions; Matched-models; CPI; Downward bias (search for similar items in EconPapers)
JEL-codes: C21 C43 C81 E31 R21 (search for similar items in EconPapers)
Date: 2010-02
New Economics Papers: this item is included in nep-ure
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Related works:
Journal Article: Housing rent dynamics in Italy (2011)
Journal Article: Housing rent dynamics in Italy (2011)
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Persistent link: https://EconPapers.repec.org/RePEc:bdi:opques:qef_62_10

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