Bank for International Settlements
Latest quarterly analysis of global developments in residential property prices
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
Monitoring house prices from a financial stability perspective - the BIS experience
Bank for International Settlements
Outlines the different ways the house prices are used in the analysis of financial stability risks
BIS Collection and publication of residential property prices
Bank for International Settlements
Outlines the general characteristics of the data published on the BIS website
Handbook on Residential Property Prices Indices (RPPIs)
This Handbook provides, for the first time, comprehensive guidelines agreed at international level for the compilation of 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
Selected residential property price series - data documentation
Summarises the characteristics of the selected residential property price indicators and describes the country specific sources, coverage and length of the series
Residential and commercial property price series - data changes
Series added recently, major revisions and other changes to the property price data sets
Research and publications
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.
FAQs
The data set is updated once a month, usually in the last week of each month. The publication date and the latest reference period are shown in the Statistics release calendar. An analysis based on these indicators is released quarterly around five months after the latest period covered.
Residential property price series are sourced by various public and private compilers such as national statistical offices, central banks, ministries, associations of real estate agents, mortgage banks and commercial data providers. The full list of sources can be found here. In the European Union, national statistical offices are the main source of residential property price series, which are compiled following the Handbook on Residential Property Prices Indices (RPPIs).
For most countries, the BIS property price publications contain time series only for the whole country and/or for the capital and the biggest city. For a few countries, data for additional cities or regions are also available.
With a few exceptions, national compilers publish property price indices adjusted for size and quality changes rather than data in national currency.
In disseminating the commercial and residential property price statistics, the BIS and its member central banks are following up on the recommendations in The financial crisis and information gap - a joint IMF/FSB report prepared for G20 Finance Ministers and Central Bank Governors. Recommendation 19 of the initial report advised the BIS and its member central banks to investigate how publicly available real estate price data are disseminated on its website. The initial joint report was published in October 2009 while the recommendations for the second phase were presented in September 2015. Further progress reports have subsequently been published in May 2010, June 2011, September 2012, September 2013, September 2014, September 2016, September 2017, September 2018, FSB and IMF publish 2019 Progress Report on G20 Data Gaps Initiative, FSB and IMF Publish 2020 Progress Report on G20 Data Gaps Initiative and FSB and IMF Publish 2021 Progress Report on the G20 Data Gaps Initiative.