Distortion in Land Price Information---Mechanism in Sales Comparables and Appraisal Value Relation---
Distortion in Land Price Information---Mechanism in Sales Comparables and Appraisal Value Relation---
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土地价格信息失真---销售可比性与评估价值关系的机制---
DOI：
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发表时间：
2003
期刊：
影响因子：
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通讯作者：
C. Shimizu
中科院分区：
文献类型：
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作者：
K. Nishimura;C. Shimizu
本文研究了日本公开的土地价格信息失真的性质和程度，特别是日本政府公布的土地价格。在考察了日本各种土地价格信息的特点后，我们基于实际交易价格和公布的土地价格构建了享乐价格指数，并对它们进行了比较，以发现政府价格信息中可能存在的扭曲。我们发现实际交易价格与公示地价之间存在较大的系统性差异，表明政府信息系统存在严重问题。我们还考虑了日本房地产市场结构性变化的可能性，并考察了其对价格指数的影响。
This paper investigates the nature and magnitude of distortion in land price information publicly available in Japan, especially in the Published Land Price of the Japanese Government. After examining characteristics of various land price information in Japan, we construct hedonic price indexes based on both actual transaction prices and Published Land Prices, and compare them to find possible distortion in the governmental price information. We find a large and systematic discrepancy between actual transaction prices and Published Land Prices, suggesting serious problems in the governmental information system. We also consider possibility of structural change in the Japanese real estate markets, and examine its effect on price indexes.