Statistical Office of the Slovak republic

Price statistics department

Lamačská cesta 3/C
840 05 Bratislava

Slovakia

The OOHPI is based on the ‘net acquisitions’ approach, which measures changes in prices paid by households for the acquisition of dwellings that are new to the household sector and changes in other costs related to the ownership, and transfer of ownership, of dwellings.

The OOHPI is broken down into the following expenditure categories:

• O.1. Owner-occupiers’ housing expenditure;
  • O.1.1. Acquisitions of dwellings;
    • O.1.1.1. New dwellings;
      • O.1.1.1.1. Purchases of newly built dwellings;
      • O.1.1.1.2. Self-build dwellings and major renovations;
    • O.1.1.2. Existing dwellings new to households;
    • O.1.1.3. Other services related to the acquisition of dwellings;
  • O.1.2. Ownership of dwellings;
    • O.1.2.1. Major repairs and maintenance;
    • O.1.2.2. Insurance connected with dwellings;
    • O.1.2.3. Other services related to ownership of dwellings.

Households which are owner occupiers.

The main statistical variables are price indices.

The basic unit of statistical observation are transaction prices of dwellings new to the household sector and of other products that the households acquire in their role as owner-occupiers.

Owner occupied dwellings.

Data are available for the country as a whole.

 From 2010

2015=100

The following units are used:

- Index point;
- Percentage change on the same period of the previous year (rates);
- Percentage change on the previous period (rates);
- Percentage share of the total (weights).

Owner Occupied Housing Price Index (OOHPI) is a quarterly statistics.

COMMISSION IMPLEMENTING REGULATION (EU) 2023/1470 of 17 July 2023 laying down the methodological and technical specifications in accordance with Regulation (EU) 2016/792 of the European Parliament and of the Council as regards the house price index and the owner-occupied housing price index, and amending Commission Regulation (EU) 2020/1148

Act No. 540/2001 Coll. on State Statistics as amended, the decree of the Ministry of Justice of the Slovak Republic no. 31/1993 Coll.on remuneration and compensations of notaries, Act No. 145/1995 Coll. on administrative fees, the Civil Code, Act No. 18/1996 Coll. on prices

None.

Protection of confidential statistical data is guaranteed by the Act No 540/2001 Coll. on State Statistics, as amended.

Indices are calculated from the aggregated confidential data - no disclosure is then possible.

At present the OOH is not published at national level.

Not available.

The OOH data is disseminated to all users by Eurostat.

Quarterly (OOHPI) and annually (weights)

The OOH indices are published by Eurostat

Not available.

OOH database

Micro-data is not disseminated.

Not relevant.

The OOH methodology is described in OOH metadata published by Eurostat.

There is no publicly available quality report.

The data are checked for completeness and consistency with OOH statistical concepts and definitions.

The Statistical office of the Slovak Republic (SO SR) does not produce OOHPI quality report besides Inventory.

The OOH data have not been published yet at national level.

Not available.

All relevant expenditure categories defined in the Commission Implementing Regulation (EU) 2023/1470 are included.

The OOH price index shall reflect the price development of owner-occupiers housing expenditures.

The sampling error is not calculated - the OOH index for the purchase of a new apartment is calculated from a sample provided by the data sources of the Cadastral Office. The sample was derived from transaction prices realized in the Slovak Republic. Legal entity transactions are not separated.

Not known.

OOHPI is not published at national level.

Eurostat was provided with OOH in compliance with the required deadlines.

Not available.

The OOH indices are not completely comparable for the whole time series. The data source for the compilation of 'New dwellings' was changed starting with 2nd Q 2021.

The indices for purchase of newly built dwellings were compared with indices compiled by National bank of Slovakia (NBS) – there are some differences – they can be explained to certain level by different way of compilation.

Figures are checked for internal consistency.

Price indices for the OOH calculation are taken from other statistical surveys or from the external source.

The OOH data is not subjected to periodic and systematic revisions. The OOH indices may be revised.

The aggregate OOH indices were revised in 2016 based on the consultation with Eurostat. The reason was changed formulae for the calculation. 

See below.

Index numbers for the purchase of newly built dwellings are compiled on the basis of full transaction prices, which are obtained from Cadastre office.

The Statistical Office of the Slovak Republic calculates the price index of self built dwellings and major renovations on the basis of subcontracting with an external company that deals with construction budgeting. This company created a family house model; defined items related to the price of material and items related to the price of construction works. Items are valued quarterly. Subsequently, the company calculates the model price of self built family house from these indicators - on the basis of which the Statistical Office of the Slovak Republic calculates the price index for self built dwellings and major renovations.

The index for other services related to the acquisitions of dwellings consists from notary fee, the fee for the registration of real estate at Cadastre and the real estate commission. Due to the fact that the notary fee and the fee for the registration of real estate at Cadastre belong to the prices determined by law in Slovakia, they are obtained from legal acts. The real estate commission (fee) for procuring the purchase of housing is obtained from a survey of market services on a quarterly basis.

The price index for major repairs and maintenance is compiled on the basis of a monthly price survey based on a predefined set of typical construction-related items. The selection of items and their weight (the share of expenditure on individual representative items) were derived on the basis of consultations with construction experts. The index for a given quarter is calculated as the average of the three corresponding monthly indices.

The source of data for weighting is national accounts statistics, business statistics and other sources.

Data for the index calculation OOH are collected on a quarterly basis with the exception of the index for major repairs and maintenance - the data for this index are collected monthly, the quarter index is the average of monthly indices.

SO SR obtains data on prices of newly built dwellings from administrative data source Cadastre office and data on prices self-built dwellings on the basis of contract with the an external company dealing with construction budgeting. The other data are obtained via survey carried out by internal employees and/or from other statistics and sources.

SO SR obtains data on prices of newly built dwellings and self-built dwellings on the basis of contract with the external data source. The other data are obtained via survey and/or from statistical reports and legal acts. The data are validated, outliers are not included.

See below.

See below.

OOHPI is a Young price index.

Elementary indices for OOH PI categories are taken from other statistical surveys, then they are aggregated by the Young formula.

The weights figures are annually compiled.

The main source for OOH weights are National Accounts t-2 data.

The source of the weights for the indices for Purchases of new dwellings and Self-build dwellings are data from NA regarding the gross fixed capital formation for household sector and statistics of the completed dwellings.

The source of the weights for Major repairs and maintenance is derived from the Imputed rental calculation and Insurance connected with the dwelling are data from NA regarding the final consumption of households.

The weights for Other services related to the acquisitions of dwellings are derived from the number of transactions for the period t-2 and the costs associated with the acquisition of these properties (verification of signatures, fee for depositing in the cadastre, remuneration of the real estate agency).

SO SR does not price update OOH weights.

The indices for the 4th quarter of the previous year are calculated and they are subsequently multiplied by the index for the 4th quarter of the previous year to the index reference period.

See below.

Dwelling prices are recorded  in timing of transfer of ownership.

VAT is included in the price of newly built dwellings.

Other taxes are not included in the price of dwellings.

Government subsidies do not affect the price of dwellings, in specific cases they affect the interest mortgage rate.

Land is included  in the prices and weights of the OOHPI.

Housing cooperatives are not included. The current housing cooperatives share is negligible - the vast majority of the previous cooperatives dwelling were sold to owner occupiers in the first years after the change of system in 1989.

Non-market transactions are not covered.

Multi-object transactions are not covered.

Fractional transactions (when only a share of a dwelling ownership is sold) are covered by Cadastre data but as outliers are excluded from the calculation.

See below.

Elementary aggregate formulae is is arithmetic mean of prices.

Replacements concern the price survey based on a predefined set of typical construction-related items carried out by internal employees of SO SR - replacements should belong to the most sold products.

Prices of model of family house provided by external experts do not require quality adjustment (QA). SO SR uses in the price survey based on a predefined set of typical construction-related items bridge overlap or expert judgement QA method.

Missing prices are solved within the indices entering the OOH PI. Missing prices in the price survey based on a predefined set of typical construction-related items are solved by carry-forward of the price for maximum of two months.

Discounts are taken into account in the calculation of OOH PI.

There was no case where a product related to the acquisition or the ownership of dwellings was made available free of charge and a price was subsequently charged or where a product was made available for a price and was subsequently made available for free.

VAT is included in the prices.

SO SR does not use statistical procedures other than quality adjustment methods used for adjusting the data.

None.