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Theoretical Background of Hedonic Measure and Repeat Sales Measure-Survey-

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Property Price Index

Part of the book series: Advances in Japanese Business and Economics ((AJBE,volume 11))

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Abstract

When it comes to methods of quality adjustment for property price indexes, if one looks at the Residential Property Price Indices Handbook published by EuroStat in 2013, it present a variety of methods along with their advantages and disadvantages: (a) Stratification or Mix Adjustment Methods, (b) Hedonic Regression Methods, (c) Repeat Sales Methods, and (d) Appraisal-Based Methods. This is because, in reality, multiple methods have been applied in the estimation of property price indexes.

The base of this chapter is Shimizu, C. and K. Karato. 2018. Property Price Index Theory and Estimation: A survey. CSIS Discussion Paper 156, The University of Tokyo. Presented at International Conference on Commercial Property Price Indicators (Eurostat, ECB, IMF and BIS, OECD). European Central Bank, Frankfurt, Germany, September 29, 2014.

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Notes

  1. 1.

    The RPPI Handbook may be viewed via the following link: http://epp.eurostat.ec.europa.eu/portal/page/portal/hicp/methodology/hps/rppi_handbook.

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Author information

Authors and Affiliations

  1. University of British Columbia, Vancouver, BC, Canada

    W. Erwin Diewert

  2. National Graduate Institute for Policy Studies (GRIPS), Tokyo, Japan

    Kiyohiko G. Nishimura

  3. Nihon University & The University of Tokyo, Tokyo, Japan

    Chihiro Shimizu

  4. The University of Tokyo, Tokyo, Japan

    Tsutomu Watanabe

Authors
  1. W. Erwin Diewert
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  2. Kiyohiko G. Nishimura
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  3. Chihiro Shimizu
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  4. Tsutomu Watanabe
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Corresponding author

Correspondence to W. Erwin Diewert .

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Diewert, W.E., Nishimura, K.G., Shimizu, C., Watanabe, T. (2020). Theoretical Background of Hedonic Measure and Repeat Sales Measure-Survey-. In: Property Price Index. Advances in Japanese Business and Economics, vol 11. Springer, Tokyo. https://doi.org/10.1007/978-4-431-55942-9_2

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