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Appraisal-based indices

Crosby, N. and Devaney, S. (2019) Appraisal-based indices. In: MacGregor, B. D., Schulz, R. and Green, R. K. (eds.) Routledge Companion to Real Estate Investment. Routledge, Abingdon, pp. 172-191. ISBN 9781138020788

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Abstract/Summary

The characteristics of real estate markets make it difficult to construct price-based indices of investment performance. Appraisal-based indices have emerged as a substitute and are now produced for real estate investment markets across the world. This chapter reviews the types of appraisal-based indices and the main performance measures that are produced from them. It also reviews evidence on the differences between appraisals and prices, and explores why appraisal indices are perceived to lag and smooth underlying market movements.

Item Type:Book or Report Section
Refereed:No
Divisions:Henley Business School > Real Estate and Planning
ID Code:82587
Publisher:Routledge

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