Abstract

The G20 Data Gaps Initiative (DGI) has notably propelled the compilation and publication of residential and commercial property price statistics. In the residential segment, where limited scale compilation began decades ago, the BIS disseminated a comprehensive data set with global coverage (61 countries by the end of 2021).
For the commercial property segment where compilation has been lagging behind, the DGI has served as a catalyst, though data availability remain limited, with significant heterogeneity in sources, compilation methods, and coverage. After the completion of the second phase of DGI, the BIS has continued to collect and to disseminate commercial property price indicators with a common metadata template. The BIS has enhanced its coverage by exploring alternative sources when public / official data were not available.
Additionally, the BIS is leading the efforts to design an SDMX global data structure definition (DSD) in cooperation with the Eurostat, IMF and OECD. The release of the new DSD will bring several benefits. First, the classification of sources, property types, market segments shall support the compilation of property price indicators. Property price specific code lists may also serve as reference, complementing the forthcoming Eurostat publication of a methodological manual. Second, the production of property price statistics with the global DSD will enable data sharing, and therefore reduce the reporting burden for compilers. Finally, implementing the new DSD will facilitate dissemination on data portals and APIs and, hence, empower the users of these statistics
The first part of this paper compares the commercial and residential property price developments across 26 countries covered by BIS residential and commercial property price statistics while the second section presents the agreed draft DSD.