In this study, we suggest a new type of real transaction house price index. The current real transaction house price index is calculated using the Repeated Sales Model, which is based on the statistical model. It is vary difficult for the general user...
In this study, we suggest a new type of real transaction house price index. The current real transaction house price index is calculated using the Repeated Sales Model, which is based on the statistical model. It is vary difficult for the general user to comprehend the statistical method, and there are disadvantages in revision of the index, the difficulty in calculating the sub-region, and the difference of 3 month time until publication.
Therefore, we use the market price method, which is a composite stock price index method, to present a new type of index that is easy and objective to calculate based on the real transaction price.
In order to secure the monthly transaction for the index calculation, the index was calculated by estimating the real transaction price of the individual house that were not actually exchanged by using the price ratio of apartment.
Through the simulation results, it is confirmed that the index is stable to sub-region.