A recent G-20 Thematic Workshop on Residential and Commercial Property Price Indices provided the participating countries with an opportunity to exchange views on compilation practices and use of the residential and commercial property prices for policy purposes, as well as on country-specific challenges. It highlighted progress and identified key challenges in the compilation of such indices. To advance work, participants agreed on the need to be pragmatic, data-oriented, and take account of available private source data. The workshop, which is part of the 2018 work program of the G-20 Data Gaps Initiative (DGI), aimed to support the participant economies’ efforts to advance the implementation of two challenging recommendations on the compilation of real estate price statistics. As Argentina holds the G-20 Presidency in 2018, the event was hosted by the Instituto Nacional de Estadísticay Censos de la República Argentina in Buenos Aires on January29-30, 2018. The workshop was jointly organized by the Bank for International Settlements (BIS), Eurostat, IMF, and the Organization for Economic Co-operation and Development. About 80 officials attended the event.
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| Document Type | General |
| Publish Date | 25/02/2018 |
| Author | |
| Published By | http://unassumingeconomist.com/2018/02/g-20-thematic-workshop-on-residential-and-commercial-property-price-indices/ |
| Edited By | Tabassum Rahmani |
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Workshop on Residential and Commercial Property Price Indices
In 2009, the G-20 Finance Ministers and Central Bank Governors endorsed twenty recommendations to address data gaps revealed by the global financial crisis. The initiative, aimed at supporting enhanced policy analysis, is led by the Financial Stability Board and the IMF. The first phase of the DGI was successfully concluded in September 2015 when the second phase (DGI-2) was launched. The DGI-2 aims to implement, through the five-year horizon of the initiative, the regular collection and dissemination of common datasets that are relevant for policy use in the G-20 economies. Two of the DGI-2 recommendations specifically cover real estate price statistics: Recommendation II on Residential Property Price Indices (RPPIs) and Recommendation II on Commercial Property Price Indices (CPPIs).