Author(s)

Weihua Jin, Shengping Jin

Department of Statistics, Wuhan University of Technology, Wuhan, China.

By using the characteristics of the new building in China, this article constructs the virtual repeat sale method to produce virtual repeat data which is similar to the repeat sale model on the house price index. Case-Shiller procedure and OFHEO method are used to calculate the house price index for new building in China. A discussion is given and furthering models are needed to take advantage of the virtual repeat sale data.

House Price Index, Virtual Repeat Sale Method, OFHEO Index

Jin, W. and Jin, S. (2014) The Virtual Repeat Sale Model for the House Price Index for New Building in China. Applied Mathematics, 5, 3431-3436. doi: 10.4236/am.2014.521320.