Regional Real Estate Price Index for Germany - SUF: 2008-11/2023

Based on the RWI-GEO-RED data that base on the data provided by ImmobilienScout24 hedonic housing price indices are estimated. The indices are on the labor market distict, district/county and municipality level (Gemeindeverbaende). We conduct a hedonic price regression that covers characteristics of the object as well as regional fixed effects. The hedonic regression is estimated separately for houses for sale as well as apartments for rent and for sale. There are three different specifications: first, the overall time development from 01/2008 to 11/2023 on district level given yearly and quaterly; second, cross-regional differences for each year separately and time development within one region from 01/2018 to 11/2023 (municipality, district and labor market region) and for the last quarter of 2023 (district and labor market region); third, the time-region fixed effect between 2008 and 2023, which is used to determine the price changes for all three region types to the base year of 2008. The definition of labor market areas rely on RWI (2018).