Hedonic Regressions and the Decomposition of a House Price Index into Land and Structure Components
利用荷兰小城市的房地产销售数据,通过特征回归技术将房价分解为土地和结构成分,并引入外部建筑成本增长率信息以构建恒定质量指数。
The paper uses hedonic regression techniques in order to decompose the price of a house into land and structure components using readily available real estate sales data for a small Dutch city. To get sensible results, it was useful to estimate a nonlinear model on data that cover multiple time periods. It also proved necessary to incorporate exogenous information on the rate of growth of construction costs in the Netherlands in order to obtain meaningful constant quality indexes for the price of land and structures separately.