The purpose of this paper is to develop constant quality price indices for three categories of real estate: apartment buildings, vacant land, and condominiums for Geneva, Switzerland. We use both the hedonic and repeat sales models to estimate the price level and, in turn, the rate of price change. The general pattern of each series suggests that real estate prices for the city of Geneva, Switzerland, where fairly stable throughout the 1970s, increased sharply during the 1980s, but gave back some of these gains in the early 1990s