Philippines: Technical Assistance Report-Property Price Index Mission

International Monetary Fund

No 2023/041, IMF Staff Country Reports from International Monetary Fund

Abstract: This technical assistance report on Philippines provides details about the Property Price Index mission. The authorities intend to improve the methods used for the Residential Real Estate Price Index and publish the Commercial Property Price Index (land only) for the first time. Some further improvements to the methods should be implemented, including amending the level at which the weights are applied in the aggregation process. The new methodology was evaluated to ensure that it adheres to international compilation standards and best practices. The authorities are committed to increasing the coverage of the statistics to include both cash purchases and other forms of non-bank lending. The existing data source used for the property price statistics are quarterly reports from the commercial banks. The report recommends to increase the capacity of the team with hedonic regression methods through attendance at a training course and/or planning further technical assistance.

Keywords: Prices Property; property price index mission; World Bank staff; instrumentalities of the TA recipient; price data distribution; title information; RREPI revision; Land prices; Price indexes; Data processing; Research in revenue administration; Commercial banks (search for similar items in EconPapers)
Pages: 14
Date: 2023-01-23
New Economics Papers: this item is included in nep-sea and nep-ure
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