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Estimación de índice de precios de inmuebles en Uruguay

María Landaberry () and Magdalena Tubio ()
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Magdalena Tubio: Banco Central del Uruguay

No 2015011, Documentos de trabajo from Banco Central del Uruguay

Abstract: In this paper we propose a set of price indexes to monitor the housing market in Uruguay, including de use of hedonic model approach. We did not find any significant increase in housing prices in the analyzed segments. For the case of Montevideo we use the hedonic approach which allows controlling for quality changes in the evolution of market prices; it identifies heterogeneities in the market and provides the estimation of shadow prices to houses’ attributes among different segments. For the remaining covered areas we propose an adjusted mean index for benchmark prices. The use of this methodology helps improving the set of price indicators and provides a framework to evaluate the deviation of current prices with market fundamentals.

Keywords: Housing prices; hedonic models; financial stability; Uruguay; Precio de inmuebles; modelos hedónicos; estabilidad financiera (search for similar items in EconPapers)
JEL-codes: G12 G28 R21 R31 (search for similar items in EconPapers)
Pages: 26 pages
Date: 2015
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