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Private residential price indices in Singapore: A matching approach

机译:新加坡私人住宅价格指数:一种匹配方法

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摘要

We use a matching procedure to construct samples of private residential sales in Singapore for January 1995 to May 2010. Though the matching approach is similar to a repeat sales estimator in pairing each sale with the sale of a comparable property, sample sizes are much larger because the matched properties are not constrained to be identical in each period. An advantage of the matching procedure is that it makes it easy to characterize changes in the full distribution of quality-adjusted sales prices, rather than just the means. We find that the distribution of sales prices shifted much farther to the right at high prices than at lower prices for 1995-2010, and this pattern is particularly evident in the boom periods of 1996 and 2005-2007. The variance of the sale price distribution increased significantly during boom periods.
机译:我们使用匹配程序来构建1995年1月至2010年5月在新加坡的私人住宅销售的样本。尽管匹配方法类似于重复销售估算器,将每个销售与可比房地产的销售配对,但样本量要大得多,因为匹配的属性不限于每个周期都相同。匹配过程的一个优点是,它可以轻松地描述质量调整后的销售价格的全部分配中的变化,而不仅仅是方法。我们发现,在1995-2010年期间,高价销售价格的分布向右移动的幅度远大于较低价格,这种情况在1996年和2005-2007年的繁荣时期尤为明显。在繁荣时期,销售价格分布的差异显着增加。

著录项

  • 来源
    《Regional science and urban economics》 |2012年第3期|p.485-494|共10页
  • 作者单位

    Department of Real Estate, Department of Finance and Institute of Real Estate Studies, National University of Singapore, 21 Heng Mui Keng Terrace, #04-02, Singapore, 119613, Singapore;

    Department of Economics and Institute of Government and Public Affairs, University of Illinois (MC-037), 1007 W. Nevada St., Urbana, IL 61801, USA;

    Department of Real Estate, National University of Singapore, 4 Architecture Drive, Singapore 117566, Singapore;

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  • 原文格式 PDF
  • 正文语种 eng
  • 中图分类
  • 关键词

    repeat sales; matching; house prices; price index;

    机译:重复销售;匹配;房价;价格指数;

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