Abstract

http://ssrn.com/abstract=951466
 
 

Citations (2)



 
 

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Considerations in the Design and Construction of Investment Real Estate Research Indices


David Geltner


MIT Center for Real Estate; Massachusetts Institute of Technology (MIT)

David C. Ling


University of Florida - Warrington College of Business Administration


Journal of Real Estate Research, Vol. 28, No. 4, 2006

Abstract:     
This paper surveys some of the major technical issues in the design and construction of real estate research indices, both appraisal-based and transactions-based. The paper considers property sampling issues, differences between transaction prices, market values, and appraised values, the trade-off between random measurement error and temporal lag bias, optimal reporting and property revaluation frequencies, and the uses and limitations of modern statistical techniques. Although one of the conclusions of the analysis is that most research questions are best addressed with transactions-based, rather than appraisal-based, indices in the United States, the paper suggests how appraisal-based indices can still be useful for some research purposes.

Number of Pages in PDF File: 34

Keywords: real estate indices, appraisal, transactions, indices

JEL Classification: C35, C42, C43, C44, C51, C52, C53, R11, R14, R15

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Date posted: December 13, 2006  

Suggested Citation

Geltner, David and Ling, David C., Considerations in the Design and Construction of Investment Real Estate Research Indices. Journal of Real Estate Research, Vol. 28, No. 4, 2006 . Available at SSRN: http://ssrn.com/abstract=951466

Contact Information

David Geltner (Contact Author)
MIT Center for Real Estate ( email )
77 Massachusetts Avenue
Cambridge, MA 02139
United States
Massachusetts Institute of Technology (MIT) ( email )
50 Memorial Drive
Cambridge, MA 02139-4307
United States
David Curtis Ling
University of Florida - Warrington College of Business Administration ( email )
P.O. Box 117168
Gainesville, FL 32611
United States
352-392-9307 (Phone)
352-392-0301 (Fax)
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