Ahlfeldt, Gabriel M. ORCID: 0000-0001-5664-3230, Heblich, Stephan and Seidel, Tobias (2023) Micro-geographic property price and rent indices. Regional Science and Urban Economics, 98. ISSN 0166-0462
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Abstract
We develop a programming algorithm that predicts a balanced-panel mix-adjusted house price index for arbitrary spatial units from repeated cross-sections of geocoded micro data. The algorithm combines parametric and non-parametric estimation techniques to provide a tight local fit where the underlying micro data are abundant, and reliable extrapolations where data are sparse. To illustrate the functionality, we generate a panel of German property prices and rents that is unprecedented in its spatial coverage and detail. This novel data set uncovers a battery of stylized facts that motivate further research, e.g. on the positive correlation between density and price-to-rent ratios in levels and trends, both within and between cities. Our method lends itself to the creation of comparable neighborhood-level rent indices (Mietspiegel) across Germany.
Item Type: | Article |
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Official URL: | https://www.sciencedirect.com/journal/regional-sci... |
Additional Information: | © 2022 The Authors |
Divisions: | Geography & Environment |
Subjects: | H Social Sciences > HD Industries. Land use. Labor H Social Sciences > HB Economic Theory |
JEL classification: | R - Urban, Rural, and Regional Economics > R1 - General Regional Economics > R10 - General |
Date Deposited: | 21 Sep 2022 16:18 |
Last Modified: | 02 Dec 2024 08:45 |
URI: | http://eprints.lse.ac.uk/id/eprint/116649 |
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