Sub-national Spatial Price Indexes for Housing: methodological issues and computation for Italy
Author(s)
Date Issued
2022
Type
article
Issue
Vol. 38, No. 1, 2022
Start Page
57
End Page
82
Journal
Abstract
It is essential to measure within-country differences in housing costs in order to evaluate costs of
living, assessing and comparing poverty levels, quantifying salaries and disposable income of
families and finally for designing housing policies at local level. To the authors knowledge, no studies
have yet been carried out on the computation of Space Price Indexes for Housing Rents (SPIHRs). In
this paper we computed preliminary estimates of sub-national SPIHRs by using hedonic regression
model, which is an extension of the Country Product Dummy method, for all the Italian regions. The
hedonic regression is generally used to obtain multilateral spatial indexes, thus allowing us to obtain
multilateral SPIHRs for the Italian regions. The estimates have been done using 2017 data from the
Real Estate Market Observatory which is a part of the Italian Agency of Revenue and Tax. This data
source is the most comprehensive source of information on Italian houses price rents with a wide
geographical coverage, including data for each Italian municipality. The obtained results show
significant differences across the Italian regions, thus highlighting the importance of calculating
SPIHR in Italy on a regular basis and the need to continue researches in this field
Subjects
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JOSLaureti_revised.pdf
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Jos_accepted_paper
Size
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