Bank for International Settlements
Latest quarterly analysis of global developments in residential property prices
About
The residential property price statistics comprise two data sets: the detailed and the selected.
The detailed residential property prices (RPP) data set contains regional and property type breakdowns for around 60 economies. The selected residential property prices (SPP) data set is designed to enhance cross-country comparability, and hence shows for each jurisdiction a single indicator that is closest to nationwide coverage. In most cases, this selected series covers all types of new and existing dwelling.
Selected residential property prices
The selected residential property prices data set shows the most representative property price indicator for each country. For most economies, this series refers to the whole country and covers the entire market: all property types, both new and existing vintages. The selected residential property prices data set is derived from the detailed data set. The BIS publishes four measures for each indicator: price indices and year-on-year growth rates, in nominal and real (CPI-deflated) terms. An analysis based on these selected indicators is released quarterly. The data set covers around 60 countries. For 23 countries, data are backdated with historical series to around 1970. In several countries, the compilation of the residential property price indicator follows the recommendations of the Handbook on residential property prices, an internationally agreed framework for classifying property price issues.
Detailed residential property prices
The detailed residential property prices data set consists of more than 300 series from around 60 countries collected from national central banks. These data series differ significantly from country to country, varying in frequency, type of property and vintage, covered area, priced unit, compilation method or seasonal adjustment. The specificities of each country’s residential property markets and the absence of binding international standards for property price statistics could explain this variability. Beyond national-level indicators, for most countries the data set contains some subnational data. Subnational data in most cases show price developments in the capital or biggest city.
Commentary
Methodology
Selected residential property prices - data documentation and sources
The residential property price indicators differ significantly from country to country, varying in frequency, type of property, covered area and priced unit. To facilitate cross-country comparison, the BIS publishes the selected property prices data set, which shows one main indicator for each jurisdiction. This document summarises the methodology, sources, coverage and compilation of the selected residential property prices.
Residential and commercial property prices - data sources
Property price series are sourced by various public and private compilers such as national statistical offices, central banks, ministries, association of real estate agents, mortgage banks and commercial data providers. This document summarises the sources of the residential and commercial property prices.
Handbook on residential property prices indices
Eurostat
This Handbook provides comprehensive guidelines agreed at international level for the compilation of residential property prices indices (RPPIs) and explains in depth the methods and best practices used to calculate an RPPI. It also examines the underlying economic and statistical concepts and defines the principles guiding the methodological and practical choices for the compilation of the indices.
Monitoring house prices from a financial stability perspective - the BIS experience
Reflecting the importance of these indicators for dealing with financial stability issues, the BIS disseminates statistics on property prices for a wide range of countries. This data collection has been reinforced since the 2007–08 financial crisis, not least in the context of the Data Gaps Initiative endorsed by the G-20. Moreover a growing attention is being paid to the long-term trends in property prices, which are an important element in determining the evolution of financial cycles across countries.
Residential and commercial property prices - data changes
This document summarises the main updates and changes to the property price statistics, including major revisions, back-calculations and the introduction of new series for residential and commercial property price data sets.
Research and publications
Mortgages, developers and property prices
This special feature studies the risks posed by the rapid rise in property developer debt in several Asian economies in recent years. Gradually, the firms involved are shifting away from traditional bank loans and choosing to issue debt securities, often in foreign currency.
Residential property price statistics across the globe
Despite their importance in macroeconomic and financial stability analysis, residential property data are not easily available on a comparable basis. The BIS currently publishes more than 300 price series for 55 countries, among which it has selected one representative series for each country.
