Philippines: Technical Assistance Report-Report on the Residential Property Price Index Mission (January 20–24, 2025)

Summary

A technical assistance (TA) mission was conducted from January 20-24, 2025, to assist the Bangko Sentral ng Pilipinas (BSP) with the development of hedonic methods for their property price statistics. The mission's primary focus was the Residential Property Price Index (RPPI). The mission completed the following tasks: (i) checked that the authorities implemented the recommendations from previous mission, (ii) updated the methods as appropriate, (iii) finalized the updated RPPI and compared to the published index, (iv) devised a strategy for dissemination of the revised results, (v) agreed on a timeline for the release of the updated RPPI and (vi) made recommendations on a way forward to develop statistics on commercial property prices.

Subject: Cyclical indicators, Economic growth, Export fluctuations, Housing, International trade, Land prices, National accounts, Prices, Real estate prices

Keywords: Commercial banks, Commercial property, Cyclical indicators, Export fluctuations, Financial stability, Housing, Land prices, Macroeconomic indicator., Macroprudential tools, Price index, Real estate prices, Real estate statistics, Residential property, Special purpose vehicle