Reference metadata describe statistical concepts and methodologies used for the collection and generation of data. They provide information on data quality and, since they are strongly content-oriented, assist users in interpreting the data. Reference metadata, unlike structural metadata, can be decoupled from the data.
The house price indices give comparable measures for dwellings prices. They are calculated according to a harmonised approach and a single set of definitions. The House Price Index (HPI) is a price index that measures the changes in the transaction prices of dwellings that households purchase. The data on the HPI are provided in the form of an overall index number comprising two sub-indices: 'Purchases of new dwellings' and 'Purchases of existing dwellings'.
The House price index is based on harmonised definitions and concepts laid down in Regulation (EU) 2016/792 of the European Parliament and of the Council of 11 May 2016 on harmonised indices of consumer prices and the house price index, and repealing Council Regulation (EC) No 2494/95, 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, and in the Technical Manual on Owner-Occupied Housing and House Price Indices.
3.2. Classification system
Index numbers, weights and rates of change are made available at the level of detail established by the Regulation (EU) 2023/1470.
H.1. Purchases of dwellings:
H.1.1. Purchases of newly built dwellings,
H.1.2. Purchases of existing dwellings).
3.3. Coverage - sector
The HPI covers the whole household sector, in particular the expenditure on purchases of dwellings carried out by households over the whole national territory.
3.4. Statistical concepts and definitions
The HPI covers all dwellings purchased by households regardless of their final use. The HPI covers not only dwellings that are new to the household sector but also all dwellings purchased from other households. The sub-index for ‘Purchases of new dwellings’ covers mainly dwellings purchased from the non-household sector; the sub-index for ‘Purchases of existing dwellings’ covers both dwellings purchased from the non-household and the household sector.
Index figures for the purchased new and existing dwellings are compiled on the basis of full transaction prices, which are collected through the use of an administrative data source – the Database of the Real Property Register and the Database of Transactions registry objects owned. The database is owned by the state enterprise Centre of Registers. Transaction prices include the value of land but exclude the price of other objects purchased during dwelling transaction.
The HPI is annually chain-linked Laspeyres-type price index. HPI data published by Statistics Lithuania are presented in the form of index numbers (current index reference period is 2015 (2015=100)) and quarterly, annual and average annual rates of change.
3.5. Statistical unit
Dwellings of private households and land purchased together with the dwelling.
3.6. Statistical population
The target population is the set of all dwellings purchased by households. The household sector includes all individuals irrespective of the type of area in which they live, their position in the income distribution and their nationality or residence status.
3.7. Reference area
Data are available for the country as a whole, Vilnius municipality and territory of the country without Vilnius city municipality levels.
3.8. Coverage - Time
Data are available since the first quarter of 2006 for all HPI time series.
3.9. Base period
The HPI released by Statistics Lithuania is a chain-linked Laspeyres-type price index that uses 2015 as an index reference year, year t-1 as a weight reference period, and fourth quarter of t–1 as price reference period.
The following units of measure are used in the Lithuanian HPI price index:
Index – equal 100 in the reference period;
Rates of change – per cent;
Weights – as parts in 1000.
The quarterly indices compiled represent the whole calendar quarter.
6.1. Institutional Mandate - legal acts and other agreements
Legal acts and other agreements - EU level:
Regulation (EU) 2016/792 of the European Parliament and of the Council of 11 May 2016 on harmonised indices of consumer prices and the house price index, and repealing Council Regulation (EC) No 2494/95.
Commission Implementing Regulation (EU) No 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.
Legal acts and other agreements - national level:
There is no specific Lithuanian legislation for the production of the HPI.
A Law on Statistics of the Republic of Lithuania is the main national legal act regarding official statistics. The production of the HPI is included in the annual Official Statistics Work Programme. The HPI is calculated based on the methodology of the Lithuanian HPI production approved on 23 August of 2023 by Order No DĮ-184 of the Director General of Statistics Lithuania.
Contract signed between Statistics Lithuania and the owner of administrative data on dwelling transactions – state enterprise Centre of Registers.
Access to administrative data:
None.
6.2. Institutional Mandate - data sharing
For the HPI calculation, data on dwelling transactions are received from the state enterprise Centre of Registers according to the contract on preparation and provision of statistical data and information.
7.1. Confidentiality - policy
EU level:
Regulation (EC) No 223/2009 of the European Parliament and of the Council of 11 March 2009 on European statistics and repealing Regulation (EC, Euratom) No 1101/2008 of the European Parliament and of the Council on the transmission of data subject to statistical confidentiality to the Statistical Office of the European Communities, Council Regulation (EC) No 322/97 on Community Statistics, and Council Decision 89/382/EEC, Euratom establishing a Committee on the Statistical Programmes of the European Communities.
National level:
Law on Statistics of the Republic of Lithuania.
Law on Legal Protection of Personal Data of the Republic of Lithuania.
7.2. Confidentiality - data treatment
Confidential data are treated according to the Regulation (EC) No 223/2009 of the European Parliament and of the Council of 11 March 2009.
According to the Law on Statistics, Statistics Lithuania cannot publish, or otherwise make available to any individual or organization, statistics that would enable the identification of data for any individual or entity.
In practice, HPI is published up to the level of detail described in the Commission Regulation (EU) No 2023/1470.
8.1. Release calendar
Statistical information is published in accordance with an approved release calendar.
8.2. Release calendar access
The calendar is placed on the Official Statistics Portal of Statistics Lithuania.
8.3. Release policy - user access
The data is disseminated to all users through the Official Statistics Portal. The data are released simultaneously to all interested parties by issuing a news release on changes in dwelling prices and updating the information on the Database of Indicators on the Official Statistics Portal. At the same time the news release is also e-mailed to the media. The news release is issued in Lithuanian only.
The Database of Indicators is available in on the Official Statistics Portal in Lithuanian and English.
The HPI is published in the Statistical Yearbook of Lithuania (price indices, as compared to the index reference period 2015 (2015 = 100), and average annual rates of change; the total HPI and price sub-indices for new and existing dwellings.
In 2007, a quality management system, conforming to the requirements of the international quality management system standard ISO 9001, was introduced at Statistics Lithuania. The main trends in activity of Statistics Lithuania aimed at quality management and continuous development in the institution are established in the Quality Policy. Monitoring of the quality indicators of statistical processes and their results and self-evaluation of statistical survey managers is regularly carried out in order to identify the areas which need improvement and to promptly eliminate the shortcomings.
11.2. Quality management - assessment
Data quality is in line with the relevance, accuracy and reliability, timeliness and punctuality, comparability and compatibility criteria.
Quarterly checks against errors and mistakes in price data are carried out. The verification of the data received is carried out using a data verification program. Computerised and manual checks are undertaken at various stages of index compilation.
HPI results are analyzed. The errors which could have an impact on the final results search are performed. A self-assessment of statistical survey managers, based on a detailed checklist for quality assessment of surveys is carried out periodically.
12.1. Relevance - User Needs
The HPI corresponds to the main needs of users. The main users of the HPI price index are the Bank of Lithuania, Ministry of Finance of the Republic of Lithuania, the European Central Bank, Eurostat, business and research communities, the media.
12.2. Relevance - User Satisfaction
Not available.
12.3. Completeness
All relevant expenditure categories defined in the Commission Regulation (EU) No 2023/1470 are compiled and published.
13.1. Accuracy - overall
The HPI is considered to be accurate and reflect the overall behaviour of the housing market well.
Basic errors occur due to incorrect data entry. The number of input errors is reduced by implementing data validation functions into programs used for the validation of primary data.
13.2. Sampling error
The HPI is based on an exhaustive administrative data source – the Database of the Real Property Register and the Database of Transactions of the state enterprise Centre of Registers. It covers the all dwellings purchased and registered.
13.3. Non-sampling error
Not available.
14.1. Timeliness
Statistical information is published not later than in 72-74 days after the end of the reference quarter.
14.2. Punctuality
Statistical information is published in accordance with an Official Statistics Calendar. In case of delay, users are notified in advance by indicating the reason and a new date of publication.
15.1. Comparability - geographical
The Lithuanian HPI is compiled at the following territorial breakdown: total, Vilnius city municipality, and the territory without the Vilnius city municipality; dwelling type breakdown: houses and flats. The HPI is comparable at the national level and EU level.
15.2. Comparability - over time
HPIs are fully comparable over time.
15.3. Coherence - cross domain
There is only one set of HPIs available.
15.4. Coherence - internal
The HPI is internally coherent. Elementary price indices are consistently aggregated to higher-level price indices.
Not available.
17.1. Data revision - policy
HPI data is revisable.
17.2. Data revision - practice
Revisions are performed in accordance with the Regulation (EU) 2023/1470.
18.1. Source data
See below.
18.1.1. Prices
Index numbers are compiled using an administrative source – the Database of the Real Property Register and the Database of Transactions of the state enterprise Centre of Registers. All dwellings purchased by households are covered.
18.1.2. Weights
HPI weights are based on dwelling transaction values. The partition of the total HPI weight into new and existing dwellings is done using information available from the same source as used for prices.
18.1.3. Source data - House Sales indicators
The main data source to compile House Sales indicators is admistrative, the Database of the Real Property Register and the Database of Transactions of the state enterprise Centre of Registers.
18.2. Frequency of data collection
Data are supplied quarterly.
18.3. Data collection
Administrative data are received in electronic form according to the contract signed between Statistics Lithuania and the state enterprise Centre of Registers.
18.4. Data validation
Data validation procedures: Data are checked at the level of individual transaction using statistical price data validation software.
Completeness check: The completeness of the transactions data received from the administrative data source is checked via checking of number of transactions provided. According to Lithuanian legislation, the dwelling purchase-selling contract is registered in the Database of the Real Property Register and the Database of Transactions in 24 hours after the contract is notarized. Therefore, there is no need to check any other completeness of transactions.
Treatment of missing transactions/missing information for price or other variable: Missing variables which are necessary for the allocation of a certain transaction are imputed using available variables (e.g., the number of rooms is calculated using the dwelling area). There were no cases when information on price was missing.
18.5. Data compilation
See below.
18.5.1. Calculation and Aggregation
See below.
18.5.1.1. Index formulae
HPI is a Laspeyres-type price index.
18.5.1.2. Aggregation method
Elementary price indices are aggregated to higher-level price indices according to the Laspeyres formula using housing purchase values as base weight.
18.5.1.3. Derivation of sub-index and elementary aggregate weights
Sub-index and elementary aggregate weights are based on data on household expenditure on transacted dwellings. Weight reference period is t-1. HPI weights are updating annually.
18.5.1.4. Price updating
Weight reference period is t-1 year. Weights are price updated to the fourth quarter of the year t-1.
18.5.1.5. Chaining and linking method
The HPI is annually chain-linked Laspeyres-type price index.
18.5.1.6. Compilation of sub-indices
Restricted from publication
18.5.1.6.1. Hedonic method
Restricted from publication
18.5.1.6.2. SPAR method
Restricted from publication
18.5.1.6.3. Stratification
Restricted from publication
18.5.2. Other processing issues
See below.
18.5.2.1. Timing for pricing
The price of the dwelling is the price in the sale contract. The data are used in the HPI for the quarter in which the sale contract was signed.
18.5.2.2. Treatment of VAT
VAT is included in the price of new dwellings.
18.5.2.3. Treatment of other taxes
Taxes other than VAT are not included in the price of dwellings.
18.5.2.4. Treatment of government subsidies
Transactions which include government subsidies cannot be identified in the data received from the state enterprise Centre of Registers.
18.5.2.5. Treatment of land
The price of land is included in both prices and weights.
18.5.2.6. Housing cooperatives
Housing cooperatives are not covered in the HPI. Such phenomenon do not exist.
18.5.2.7. Treatment of non-market transactions
Transactions, which are not registered, not covered in HPI.
18.5.2.8. Treatment of multi-object transactions
Transactions, included more than one property are evaluated and from them dwelling are separated.
18.5.2.9. Treatment of fractional transactions
Restricted from publication
18.5.2.10. Outliers detection
When price data are verified and preliminary price indices are calculated, price indices of elementary aggregates are sorted according to the size of the quarter change and any outlier price indices are further checked. The impact of price change of dwelling belonging to particular strata is calculated.
18.5.2.11. Treatment of incomplete data source coverage
The main data source for House Sales indicators is state enterprise Centre of Registers. In this data sources all transactions are covered.
18.6. Adjustment
No adjustments other than quality adjustment are applied to the HPI data.
None.
The house price indices give comparable measures for dwellings prices. They are calculated according to a harmonised approach and a single set of definitions. The House Price Index (HPI) is a price index that measures the changes in the transaction prices of dwellings that households purchase. The data on the HPI are provided in the form of an overall index number comprising two sub-indices: 'Purchases of new dwellings' and 'Purchases of existing dwellings'.
The House price index is based on harmonised definitions and concepts laid down in Regulation (EU) 2016/792 of the European Parliament and of the Council of 11 May 2016 on harmonised indices of consumer prices and the house price index, and repealing Council Regulation (EC) No 2494/95, 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, and in the Technical Manual on Owner-Occupied Housing and House Price Indices.
13 November 2024
The HPI covers all dwellings purchased by households regardless of their final use. The HPI covers not only dwellings that are new to the household sector but also all dwellings purchased from other households. The sub-index for ‘Purchases of new dwellings’ covers mainly dwellings purchased from the non-household sector; the sub-index for ‘Purchases of existing dwellings’ covers both dwellings purchased from the non-household and the household sector.
Index figures for the purchased new and existing dwellings are compiled on the basis of full transaction prices, which are collected through the use of an administrative data source – the Database of the Real Property Register and the Database of Transactions registry objects owned. The database is owned by the state enterprise Centre of Registers. Transaction prices include the value of land but exclude the price of other objects purchased during dwelling transaction.
The HPI is annually chain-linked Laspeyres-type price index. HPI data published by Statistics Lithuania are presented in the form of index numbers (current index reference period is 2015 (2015=100)) and quarterly, annual and average annual rates of change.
Dwellings of private households and land purchased together with the dwelling.
The target population is the set of all dwellings purchased by households. The household sector includes all individuals irrespective of the type of area in which they live, their position in the income distribution and their nationality or residence status.
Data are available for the country as a whole, Vilnius municipality and territory of the country without Vilnius city municipality levels.
The quarterly indices compiled represent the whole calendar quarter.
The HPI is considered to be accurate and reflect the overall behaviour of the housing market well.
Basic errors occur due to incorrect data entry. The number of input errors is reduced by implementing data validation functions into programs used for the validation of primary data.
The following units of measure are used in the Lithuanian HPI price index:
Index – equal 100 in the reference period;
Rates of change – per cent;
Weights – as parts in 1000.
See below.
See below.
Quarterly for the HPI and annual for weights.
Statistical information is published not later than in 72-74 days after the end of the reference quarter.
The Lithuanian HPI is compiled at the following territorial breakdown: total, Vilnius city municipality, and the territory without the Vilnius city municipality; dwelling type breakdown: houses and flats. The HPI is comparable at the national level and EU level.
