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| Contributor | Helmut Maier, Berlin School of Economics |
| Title of paper | An Observable Indicator to Measure Market Prices of Housing Markets in Urban and Regional Districts without Sales in the Reference Period |
| Abstract | In cases where surveys of official statistics to measure market prices on housing markets deliver no statistical data because of missing sales of apartments for a certain urban area or a regional district during the reference period, the paper suggests and substantiates the solution to take the loan values of apartments as equivalent measure into consideration. This estimation delivers an observable indicator, and it includes prices of a real market (and not of a fictitious one). The underlying analysis is based on a combined theoretical and empirical approach, the latter includes detailed observations of a legal procedure of a forced sale of an apartment in Berlin/Germany between 1993 and 1995. In addition, the paper concludes that estimations of these (missing) prices based on expert opinions of banks should not be taken into consideration. |
| Full document | An Observable Indicator to Measure Market Prices of Housing Markets in Urban and Regional Districts without Sales in the Reference Period |
This page last revised: Wednesday, 10 July 2002
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