Year
2003
Authors
BARONI Michel, BARTHELEMY Fabrice, MOKRANE M.
Abstract
In this paper we address the issue of measuring price performance for the Paris residential market. We identify three existing indices but show that they are not completely appropriate to address our main goals. From the CD-BIEN database covering the period 1983-2001, we estimate two complementary repeat sales indices: a Case & Shiller (1987) Weighted Repeat Sales (WRS) index and a Factorial index using the Baroni, Barthélémy & Mokrane (DR0120-2001) approach. Our conclusions yield interesting implications concerning real estate risk and suggest the construction of jointly using the repeat sales and the factorial approaches.
BARONI, M., BARTHELEMY, F. et MOKRANE, M. (2003). Which Capital Growth Index for the Paris Residential Market? ESSEC Business School.