Abstract
Using data on 403 property transactions in Stockholm in the early 1990s, we illustrate how a microdata base can be used to compute 'constant-quality' cap rate series. We show a wide disparity between apartment and commercial series so calculated and series computed as simple averages of individual property cap rates. In the process, we find evidence of full capitalization of below-market financing in apartment prices.
Published Version
Talk to us
Join us for a 30 min session where you can share your feedback and ask us any queries you have
Disclaimer: All third-party content on this website/platform is and will remain the property of their respective owners and is provided on "as is" basis without any warranties, express or implied. Use of third-party content does not indicate any affiliation, sponsorship with or endorsement by them. Any references to third-party content is to identify the corresponding services and shall be considered fair use under The CopyrightLaw.