Regional comparative residential price level in Romania
Journal Title: Revista Romana de Statistica - Year 2015, Vol 63, Issue 7
Abstract
The measurement of residential property price constitute distinct challenges for compilers. Residential property is by nature very heterogeneous and is traded infrequently. In normal times this already presents challenges in the observation of transaction prices for comparable houses. Compiling residential prices during times of crises, e.g. when the volume of transactions decreases sharply from the normal level, is even more challenging. Monitoring the property prices is important as boom and busts in real estate markets affecting the real economy through a variety of channels and can be an important source of macroeconomic imbalances Research has been conducted intensively, particularly after the recent crises, on methods of compiling housing price indicators appropriately. The location, history and facilities of each house are different from each other in varying degrees, so there are no two houses that are identical in terms of quality. Even if the location and facilities are the same, the age of the building may differ, in which case the degree of deterioration varies accordingly and the houses are not identical. In other words, houses have particularity with few equivalents. The appropriate methodology applied for construction of property price statistics and its coverage is influenced by the type of uses. This paper focuses on the potential uses of residential property prices from the individual household’s and macroeconomics perspectives and on the hedonic method used to compile the regional property prices level on a comparable base.
Authors and Affiliations
Mihai Gheorghe
Keywords
Related Articles
- EP ID EP111583
- DOI -
- Views 151
- Downloads 0
THE STATISTIC ANALYSIS OF THE ASPECTS REGARDING THE ROMANIA - EU RELATION WITH A VIEW TO THE LIVING STANDARD AND LIFE QUALITY INDICES
The overall evolution of the Romanian economic indices shows a huge gap at the beginning of 2000, later on diminished in 2007, when Romania acceded to EU as a consequence of the intensive effort to implement the economic...
The Activity in the Constructions and Transportation Fields
In the Romanian economy, the constructions sector occupies an important and significant place. As our economy is on a developing path, it is expected and normal that the results and weight of this activity is focused on...
METODE DE REDRESARE A EŞANTIOANELOR. AMELIORAREA CALITĂŢII INFORMAŢIILOR OBŢINUTE DIN SONDAJE
Cercetările statistice prin sondaj, oricât de bine proiectate, se confruntă deseori cu faptul că structura eşantionului rezultat nu reproduce întocmai structura colectivităţii studiate. Pentru a obţine estimatori mai exa...
STATISTICĂ ÎN ROMÂNIA: DE LA CATAGRAFII LA RECENSĂMINTE – TRECUT ŞI ACTUALITATE
La împlinirea a 151 ani de statistică oficială în România (1859 – 2010), stabilirea Zilei Mondiale a Statisticii (20 octombrie 2010) pentru a fi celebrată în întreaga lume – reprezintă pentru ţara noastră, fără echivoc,...
ANALIZA STATISTICĂ A FENOMENULUI MIGRAŢIEI ROMÂNILOR
Pe baza condiţiilor economice nefavorabile din România, tot mai multe persoane sunt forţate să găsească un loc de muncă – temporar sau permanent – în afara graniţelor ţării. Acest fenomen de migraţie internaţională are c...