The CypERC property price index: Data and estimation methods
Journal
Economic Policy/Analysis Papers
Date Issued
May 2016
Abstract
This paper describes the sampling methods and estimation techniques employed by the Economics Research
Centre (CypERC) for the construction of property price indices for Cyprus. More specifically, the research
described here aims at enhancing the existing knowledge on property price behaviour in Cyprus by:
(a) building a new database, using newspaper advertisements of monthly prices and related information
about various types of property (houses, flats, plots, etc.) in different districts of Cyprus over the post2000 period;
(b) developing models for the estimation of property price indices that can provide a measure of the
quarterly change in property prices, together with an assessment of the reliability of this measure.
This paper revises the estimation methodology in Karagiannakis et al. (2015) to take into account the effects of
different data sources on property prices.
Centre (CypERC) for the construction of property price indices for Cyprus. More specifically, the research
described here aims at enhancing the existing knowledge on property price behaviour in Cyprus by:
(a) building a new database, using newspaper advertisements of monthly prices and related information
about various types of property (houses, flats, plots, etc.) in different districts of Cyprus over the post2000 period;
(b) developing models for the estimation of property price indices that can provide a measure of the
quarterly change in property prices, together with an assessment of the reliability of this measure.
This paper revises the estimation methodology in Karagiannakis et al. (2015) to take into account the effects of
different data sources on property prices.
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