Commercial Property Price Indices and Indicators: Review and Discussion of Issues Raised in the CPPI Statistical Report of Eurostat (2017)

Commercial property price indices (CPPIs) are needed to monitor financial stability, guide investment decisions by firms, and improve national accounts. Due to a lack of suitable data, however, reliable CPPIs are often hard to construct. Here we survey the current state of the CPPI literature and as...

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Bibliographic Details
Published inThe Review of income and wealth Vol. 66; no. 3; pp. 736 - 751
Main Authors Hill, Robert J., Steurer, Miriam
Format Journal Article
LanguageEnglish
Published Oxford Blackwell Publishing Ltd 01.09.2020
Subjects
appraisal index
Commercial real estate
Economic theory
financial stability
hedonic price index
Indexes
national accounts
Prices
Property
repeat-sales
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Summary:Commercial property price indices (CPPIs) are needed to monitor financial stability, guide investment decisions by firms, and improve national accounts. Due to a lack of suitable data, however, reliable CPPIs are often hard to construct. Here we survey the current state of the CPPI literature and assess the contribution of the recently published Eurostat CPPI report.
Bibliography:We thank the Austrian Research Promotion Agency (FFG) (grant #10991131) for funding, and Niall O’Hanlon for comments on an earlier draft.
Note
ISSN:0034-6586
1475-4991
DOI:10.1111/roiw.12473