Handbook on Residential Property Prices Indices
Residential property is both a source of wealth and, insofar as property owners live in or on their property, an important determining factor in their cost of living. The price of a house is something different from the cost of dwelling services it...
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| Format: | Publication |
| Language: | English en_US |
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Luxembourg: Publications Office of the European Union
2014
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| Online Access: | http://documents.worldbank.org/curated/en/2013/01/19204058/handbook-residential-property-prices-indices-rppis http://hdl.handle.net/10986/17280 |
| Summary: | Residential property is both a source of
wealth and, insofar as property owners live in or on their
property, an important determining factor in their cost of
living. The price of a house is something different from the
cost of dwelling services it provides, though the two
concepts are obviously interlinked. The need for property
price indices that are fit-for-purpose was recognized at a
conference organized jointly by the International Monetary
Fund (IMF) and the Bank for International Settlements (BIS)
in Washington DC, October 2003. As a result, a chapter on
residential property price indices was added to the
IMF's "compilation guide of financial soundness
indicators". The idea of a more detailed handbook dates
back to a workshop organized by the Organization for
Economic Co-operation and Development (OECD) and the IMF on
real estate price indices in Paris, November 2006. The aim
of this handbook is to facilitate the setting-up of
residential property price indices in countries where these
are still missing and the improvement of existing price
indices where this is deemed necessary. It is designed to
give practical guidance on the compilation of house price
indices, both in developed and less developed countries, and
to increase international comparability of residential
property price indices. It explains the different user
needs, gives details on data and methods that can be used to
compile residential property price indices, and provides
recommendations. The production of the handbook was funded
and supported by Eurostat. |
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