Using Repeat Sales Model to Estimate Housing Index in Price Engineering

I suggest a series of rules in this paper which made Repeat Sales Model available in measuring index in the New Commodity Housing Market in price engineering. Then I use these rules to build Repeat Sales Model based on sales data from the department of housing management to estimate the Housing Price Index of Lian-qian district of Xia’men city of china, some topics in price engineering are argued in empirical studies, which include: how to select data, which is the best estimator, what is the real index, and what biases does new index have?