Residential Property Price Indices (RPPI)

Source details

Training Program offered by the IMF Statistics Department.
Session No.: CE 23.05.
Deadline passed.
Location: Abu Dhabi, United Arab Emirates.
Date: January 23-27, 2023 (1 week).
Delivery Method: In-person Training.
Primary Language: English.
Interpretation Language: Arabic.
Target Audience: Mid-level to senior officials and compilers responsible for, or planning to introduce or develop residential property price indexes (RPPI).
Qualifications: Participants are expected to have a degree in economics or statistics; or equivalent experience.

Purpose: Identify the key uses of RPPIs; review data sources and methods for compiling RPPIs; and outline strategic issues for country-specific application.
Emphasis on evaluating alternative data sources for compiling RPPIs in terms of:
- coverage,
- timeliness,
- richness in terms of supporting a quality-mix methodology,
- suitability of a price measure,
- weighting.
Trade-offs involved in selecting data sources are considered, as are strategies for longer-run development of data sources.
Methodological emphasis: the quality-mix problem — a change in the mix of properties transacted each period can bias measures of change in average prices.
Mix-adjustment methods covered:
- stratification,
- hedonic regression.
Interactive workshops address mix-adjustment topics and practical implementation.
The course highlights the interaction between data source and methodological issues and follows the principles of the 2013 Handbook on RPPIs published by Eurostat, International Labor Organization (ILO), IMF, Organization for Economic Co-operation and Development (OECD), United Nations Economic Commission for Europe (UNECE), and the World Bank.
Practical compilation advice draws on the 2020 RPPI Practical Compilation Guide published by the IMF.