Real Estate Prices: A Paris Repeat Sales Residential Index

Authors: Michel Baroni, Fabrice Barthelemy and Mahdi Mokrane

Start Page: 303
End Page: 322
Volume: 13
Issue Number: 3
Year: 2005
Publication: Journal of Real Estate Literature

Abstract: This paper offers an alternative methodology to estimate an index for Paris residential
housing prices: the now standard repeat sales method (Case and Shiller, 1987). The same dataset as the official Notaires/INSEE Index is employed, and after discussing the main assumptions and their implications for estimation robustness, the estimated index for the 1982–2002 period is compared with the Notaires/INSEE Index. The findings indicate that the estimation is quite robust whatever the estimation period, and that this index is significantly different from the official residential index for Paris.