TY - CONF T1 - MEASURING RETURNS IN THE SWISS RENTAL MARKET : A NEW REPEATED-MEASURES INDEX T2 - 17th Annual European Real Estate Society Conference Y1 - 2010 A1 - Constantinescu, Mihnea AB - The real estate market is well-known for its illiquidity. The lack of regular transactions renders the measurement of returns a complicated matter. In this paper we construct an index of the Swiss residential market starting as early as 1950. Given the data sample at our disposal of roughly 1000 paired data points we focus on the repeated-measurement methodology to evaluate both an equally-weighted and a value-weighted yearly price index of rental residential property spread across all of Switzerland. We also develop an alternative of the SPAR method (Sale Price Appraisal Ratio) and compute an index based on this new method. The newly developed ISPAR method yields similar results as the repeated-measurement yet is less influenced by the sample size in the years with little data. JA - 17th Annual European Real Estate Society Conference T3 - ERES: Conference CY - Milan, Italy U3 - RePEc:arz:wpaper:eres2010_004 J1 - Conference 2010 ID - oai:eres.id:eres2010_004 M3 - 10.15396/eres2010_004 ER -