A Repeat-Sales Transaction-Based Index of Commercial Property
36 Pages Posted: 10 Apr 1998
Date Written: January 31, 1998
This study employs the repeat-sales transaction-based methodology, pioneered in the housing literature, to estimate commercial property price indices for the state of Florida over the 1975-97 period. The study is designed to: (i) investigate the feasibility of applying this method to estimate reliable commercial property indices; (ii) compare the transaction-based indices with the widely-used NCREIF (appraisal-based) index and its sub-indices; and (iii) examine the differences in the price movements of large "institutional-quality" properties versus a broader sample of commercial properties.
JEL Classification: G1, G2
Suggested Citation: Suggested Citation