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|Title:||Private residential price indices in Singapore: A matching approach|
|Authors:||Deng, Y. |
|Citation:||Deng, Y., McMillen, D.P., Sing, T.F. (2012). Private residential price indices in Singapore: A matching approach. Regional Science and Urban Economics 42 (3) : 485-494. ScholarBank@NUS Repository. https://doi.org/10.1016/j.regsciurbeco.2011.06.004|
|Abstract:||We use a matching procedure to construct samples of private residential sales in Singapore for January 1995 to May 2010. Though the matching approach is similar to a repeat sales estimator in pairing each sale with the sale of a comparable property, sample sizes are much larger because the matched properties are not constrained to be identical in each period. An advantage of the matching procedure is that it makes it easy to characterize changes in the full distribution of quality-adjusted sales prices, rather than just the means. We find that the distribution of sales prices shifted much farther to the right at high prices than at lower prices for 1995-2010, and this pattern is particularly evident in the boom periods of 1996 and 2005-2007. The variance of the sale price distribution increased significantly during boom periods. © 2011 Elsevier B.V.|
|Source Title:||Regional Science and Urban Economics|
|Appears in Collections:||Staff Publications|
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