Real estate price index: A hedonic approach

This paper estimates a hedonic price indices of departments for Metropolitan Lima. For this purpose, three methods are used: Time Dummies, Characteristics and Imputation methods. The indices calculated by these three methods present similar results. The article shows that there has not been a great variation in the characteristics of the departments or the valuations of these characteristics. The characteristics with the highest valuation of the buyers are the number of garages and the number of bathrooms. Last, similarity is found in the indices calculated based on hedonic regressions and the median index calculated and published by the BCRP. (Audio: Department of Economic Publications)