Economics, Econometrics and Finance
4 years ago

Belgian house prices may be misleading, new index reveals true value.

Review of Business and Economic Literature (Printed)/Review of Business and Economic Literature (Online)
Why and how to construct a genuine Belgian price index for house sales
André Decoster, Kris De Swerdt

Paper Summary

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The way we currently look at house prices in Belgium might not be accurate because the houses being sold are changing over time. By using a method called a hedonic index, which considers these changes, we found that the actual price index for house sales is lower than what we thought based on average prices. This means we need to gather more detailed data on the characteristics of houses being sold in Belgium.