The treatment of housing co-operatives in a house price index

Rui Evangelista and Daniel Santos

MPRA Paper from University Library of Munich, Germany

Abstract: Housing co-operatives, also known as “tenant-owner co-operative housing”, provide an alternative to both renting and owning a dwelling. As an indirect form of ownership, it poses some conceptual and practical issues to anyone aiming at compiling a price index covering all forms of own-occupied housing. Starting from the position that these co-operatives provide a type of tenure similar to owner- occupied housing, this paper provides some practical guidance on the way they can be treated in the compilation of a house price index. An empirical bootstrap study, based on advertised co-operative flats in Oslo, supports the proposals done in this paper. To our knowledge, this is the first time such a study is carried out in this context.

Keywords: Housing co-ops; House Price Indexes; Owner-occupied housing; Bootstrap (search for similar items in EconPapers)
JEL-codes: C43 E31 (search for similar items in EconPapers)
Date: 2012-04-06
New Economics Papers: this item is included in nep-hme and nep-ure
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Persistent link: https://EconPapers.repec.org/RePEc:pra:mprapa:42200

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