Please use this identifier to cite or link to this item:
|Title:||Transaction-based office price indexes: A spatiotemporal modeling approach||Authors:||Tu, Y.
|Issue Date:||2004||Citation:||Tu, Y., Yu, S.-M., Sun, H. (2004). Transaction-based office price indexes: A spatiotemporal modeling approach. Real Estate Economics 32 (2) : 297-328. ScholarBank@NUS Repository. https://doi.org/10.1111/j.1080-8620.2004.00093.x||Abstract:||This study examines the potential of a two-order spatiotemporal autoregressive model with a Bayesian heteroskedasticity robust procedure in modeling stratatitled Singapore office unit transaction prices and in constructing transaction-based disaggregate office price indexes, The model reduces the problems caused by the infrequent trading of individual commercial properties. However, for those office properties that are located outside the CBD and also for those less frequently transacted, the power of the model in capturing these particular office buildings' price dynamics is limited. The significant differences of the office prices across the various office buildings and submarkets show that the model can capture the variation in office prices and track the timing of capital gains and losses that investors may accrue on spatially distributed office properties more accurately than hedonic or weighted least squares estimates.||Source Title:||Real Estate Economics||URI:||http://scholarbank.nus.edu.sg/handle/10635/46296||ISSN:||10808620||DOI:||10.1111/j.1080-8620.2004.00093.x|
|Appears in Collections:||Staff Publications|
Show full item record
Files in This Item:
There are no files associated with this item.
Items in DSpace are protected by copyright, with all rights reserved, unless otherwise indicated.