Compilation of Commercial Property Price Indices for Germany Tailored for Policy Use

Thomas Knetsch

Journal of Economics and Statistics (Jahrbuecher fuer Nationaloekonomie und Statistik), 2021, vol. 241, issue 4, 437-461

Abstract: The compilation of commercial property price indices (CPPIs) is challenging. Policymakers urge for timely, reliable and comprehensive data. In Germany, lack of data prevents the calculation of official figures by the national statistical authority. Different applications of price indices need different definitions of commercial real estate. CPPIs according to these definitions are constructed on the basis of existing data for 127 German towns and cities (that cover about one-third of German population). The overall price developments revealed by the various indices are rather similar in terms of central time series characteristics, while differences in detail can be explained by their specific compositions. Price increases for all definitions have been strongest in the seven largest cities. The definitions tend to lead to more marked differences for medium-sized towns.

Keywords: commercial property price indices; private data; stock weighting; policy use (search for similar items in EconPapers)
JEL-codes: C43 E31 R33 (search for similar items in EconPapers)
Date: 2021
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Working Paper: Compilation of commercial property price indices for Germany tailored for policy use (2020)
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Persistent link: https://EconPapers.repec.org/RePEc:jns:jbstat:v:241:y:2021:i:4:p:437-461:n:1

DOI: 10.1515/jbnst-2019-0072

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