Statistics Netherlands

Economics and Business statistics: Producer prices and house prices, The Hague

P.O. Box 24500, 2490 HA The Hague

HPIs give comparable measures for changes in the prices of dwellings. They are calculated according to a harmonised approach and a single set of definitions.

Both the index numbers and weights sent to Eurostat are available at the level of detail established by Commission Implementing Regulation (EU) 2023/1470.

HPI data is provided in the form of an overall index number comprising two sub-indices:

(1) Purchases of newly-built dwellings and

(2) Purchases of existing dwellings.

ESA 2010 sector S.14 (Household sector).

HPI data for the purchases of newly built and existing dwellings are compiled on the basis of full transaction prices. The HPI covers all transactions of dwellings made by households regardless of their final use. The weights for the two sub-indices are equal to the total value of dwelling transactions for newly built and existing dwellings, respectively. Both prices and weights include land value, as recommended by the Manual.

The basic statistical unit of the HPI is dwellings in the Netherlands.

The target population is the set of all transactions of dwellings purchased by households.

For overall index and two sub-indices HPI data is available for the Netherlands as a whole and also for 12 provinces (regions defined at NUTS II level; NUTS = Nomenclature of Territorial Units for Statistics). For the sub-index of existing dwellings data is also available for COROP-areas (regions defined at NUTS III level), the four largest cities and five object types.

Data are available since the first quarter of 2005 (sub-index, newly-built dwellings) and since the first quarter of 1995 (sub-index, existing dwellings), respectively. On the Eurostat website HPI data is available since the first quarter of 2005. 

The reference period is the year 2015.

Index figures are available as well as quarterly and annual growth rates in percentages. Weights are given as parts in 1000 and in national currency (million euros).

Prices are collected on a quarterly basis during the whole calendar quarter.

Legal acts and other agreements - EU level:

Commission Implementing Regulation (EU) 2023/1470 provides for the quarterly transmission of HPI data by 85 days after the end of the quarter and of the annual weights by 15 June of year following the year to which the weights relate.

Legal acts and other agreements - national level:

According to article 33 of the Dutch statistics act the director general is authorised to use, for statistical purposes, data from registers that are maintained in connection with the performance of a statutory duty by:

a. institutions and departments of: 1°. central government; 2°. provinces; 3°. local authorities; 4°. water boards; 5°. public bodies established pursuant to the Joint Regulations Act;

b. public bodies as referred to in Section 134 of the Constitution;

c. autonomous agencies at the level of the central government.

Access to administrative data:

See article 33 of Dutch statistics act 

Transactions of existing dwellings including transaction prices and transaction numbers of new dwellings are collected by the Dutch Land Registry (Kadaster) and shared with Statistics Netherlands for the production of HPI.

Transactions of existing dwellings are in some cases available for researchers (under strict conditions). 

The policy and other details for data sharing can be found at https://www.cbs.nl/en-gb/onze-diensten/customised-services-microdata/microdata-conducting-your-own-research 

Regulation (EC) No 223/2009 on European statistics (recital 24 and Article 20(4)) of 11 March 2009 (OJ L 87, p. 164), stipulates the need to establish common principles and guidelines ensuring the confidentiality of data used for the production of European statistics and the access to those confidential data with due account for technical developments and the requirements of users in a democratic society.

The HPI itself and its sub-indices for existing and newly built dwellings are not confidential.

Following the Statistics Netherlands Act, Statistics Netherlands cannot reveal any information which can be related to individual persons, households, enterprises or institutions. https://www.cbs.nl/en-gb/about-us/organisation/privacy/iso-certification-and-privacy-certification

Confidential data may not be published without permission of Statistics Netherlands.

In the dataset no data is available that can be related to individual persons or households.

For the regional-HPI for 12 provinces a minimum amount of dwellings is set to define a confidential cell.

A new monthly figure of the sub-index of existing dwellings is released at the 22st day of the next month, or at the closest working day. New quarterly figures for the overall index of HPI, and its two sub-indices, are released at end of next quarter. There is a release calendar which is publicly accessible.

Release calendar 

There is no pre-access to specific users.

Monthly for sub-index of existing dwellings. Quarterly for overall index of HPI and its two sub-indices. Annual for all HPI weights.

A news release is published after each data publication on the main page of https://www.cbs.nl/. Monthly online press release on national existing dwellings index, quarterly press release on regional existing and new dwelling indices and dwelling type indices.

The Land Registry Office (Kadaster) publishes the index for existing dwellings each month. 

The ministry of the Interior and Kingdom Relations publishes an annual report on the housing market.

HPI for existing and newly built dwellings (quarterly)

HPI for existing dwellings (monthly)

Micro-data is available for authorised external researchers. For more information see microdata catalogue.

One of the available datasets concerns transaction information from Land Registry Office Netherlands (in Dutch: Kadaster). This dataset contains transaction prices of all existing dwellings purchased in the Netherlands. It includes additional information like transaction date, dwelling address, dwelling type and the appraisal values used by municipal administrations for tax purposes.

Not applicable.

The on-line databases disseminated through Statistics Netherlands website always contain meta information, including hyperlinks to documents on the used methodology. The documents are available in English and Dutch. For HPI: House Price Index (HPI) 2015=100 

The last quality report was transmitted as the end result of the grant-research of 2017-2018.

All data are checked for completeness and consistency with statistical concepts and definitions. Document name: NL Final report development of sub-national HPIs 2017-2018 .pdf. ISO-certification (ISO 9001)

The quality of the HPI index is routinely reviewed using a framework that is based on the OOH (Technical) Manual, the Handbook on Residential Property Price Indices (RPPI) and the European Statistical System (ESS) definition of quality. ISO-certification: https://www.cbs.nl/en-gb/about-us/organisation/privacy/iso-certification-and-privacy-certification

The HPI meets the needs of all users interested in knowing the behaviour of prices in the house price market.

Ministry of Economic affairs and Climate Policy, the Ministry of the Interior and Kingdom Relations and the Dutch National Bank are relevant users of the development of prices in the house price market.

There are frequent meetings with expert groups on construction and housing. 

As required by the Commission Implementing Regulation (EU) 2023/1470: the HPI consists of an overall index of all dwelling purchases by households in the Netherlands, including two sub-indices (existing and newly-built dwellings, respectively).

For existing dwellings the accuracy is 100% and for newly-built dwellings about 70%. The relative share of existing dwellings in the HPI is 80%. HPI data collection is based on a sample survey for newly built dwellings and integral observation of existing dwellings. The types of survey, sampling, and price collection methods are designed to ensure sufficient coverage and timeliness. The accuracy of the HPIs is assured by following Eurostat’s methodological recommendations.

Probability sampling is used only for newly built dwellings.

Not applicable.

The national publication of the HPI is in the first week in the fourth month after the reference quarter. The national publication of the HPI for existing dwellings is around 22 days after the reference quarter.

HPI data are sent to Eurostat, using eDamis, according to the OOH regulation, i.e., the quarterly indices are sent no later than 85 days after the end of the reference quarter. There is no record of delays in the transmission and dissemination of the data.

For overall index and the two sub-indices HPI data is comparable at national level and also between NUTS II regions (12 provinces). There are no comparability problems.

The HPI is available from 2005. First an administrative source for newly built dwellings was used. From 2015 surveys are used. This improved the coverage of newly built dwellings. The HPI is chain linked annually and is comparable over time.

The HPI partly overlaps the scope of the other owner-occupied house price indices described in Commission Implementing Regulation (EU) 2023/1470. Contrary to these other indices, the HPI does not follow the net acquisitions concept and, in addition, the price of land is always included in prices and weights of the HPI. Any comparison of the HPI with the other OOH price indices should be done with this in mind.

The trend of the HPI for existing dwellings resembles the trend of the index of real estate association NVM. The HPI is based on Land Registry Office's data, whereas the NVM-index is based on real estate agency data. The price data of latter index is recorded at an earlier stage: the signing of the contract. Furthermore, the NVM-index is based on a lower coverage of house sales with a non-random sample.

Higher level aggregations are derived from detailed indices according to well-defined procedures. The coherence of produced HPIs is regularly checked against other sources of information on the housing market.

Statistics Netherlands is not able to provide detailed information.

New figures for the most recent quarter will be provided as provisional data, which will be revised and finalised, if necessary, in time for the following publication and in compliance with Commission Implementing Regulation (EU) 2023/1470.

Every on-line database disseminated through Statistics Netherlands website contains information on its revision policy. In principle, the HPI is only subject to revisions of the previous (preliminary) period. If for some reason another significant revision is needed in the price index existing dwellings, Eurostat will be informed and the general public will be informed at our website, e.g. by a press release. If another significant revision only affects the price index of newly-built dwellings, only Eurostat will be informed.

Main reasons for revisions are changes in methodology or rebasing the index figures to a recent year.

See below.

Existing dwellings: Index numbers and weights are compiled using administrative sources obtained from Land Registry Office Netherlands (transaction prices of existing dwellings) and Dutch municipal administrations (appraisals of existing dwellings).

Newly-built dwellings: Index numbers and weights are compiled using survey data and administrative sources obtained from Land Registry Office Netherlands (transactions of newly-built dwellings).

The total transaction value serves as weight for the HPI. The source for existing dwellings is the registry of the Land Registry Office (Kadaster). The source for new dwellings is a combination of the Land Registry and the survey undertaken by Statistics Netherlands.

The main source to compile the House Sales indicators is an administrative database. Two administrations of the  Land Registry Office (Kadaster) are used. These administrations contains all transactions of existing dwellings and of new dwellings.

Data for existing dwellings is collected on a monthly basis and is published accordingly. Data for new dwellings is collected on a quarterly basis and is also published accordingly.

Collection details:

Administrative data are collected through the use of service level agreements with the data providers. 

Survey data is collected through a questionnaire in the form of an Excel-document. Respondents can return the questionnaire through a secured environment/web page.

Link to the questionnaire: https://www.cbs.nl/nl-nl/deelnemers-enquetes/bedrijven/overzicht-bedrijven/prijsindex-nieuwbouw-koopwoningen

We do not expect any changes in data collection in the near future.

Database:

The on-line databases disseminated through Statistics Netherlands website always contain meta information, including hyperlinks to documents on the used methodology. Four databases are available for existing dwellings:

HPI existing and newly built dwellings

HPI existing dwellings - The Netherlands (total)

HPI existing dwellings - region

HPI existing dwellings - dwelling type

Existing dwellings:

All unreliable data are removed from the transaction database of the Land Registry Office and the WOZ files (valuations). Dwellings are not included if they match one of the following characteristics:

1. type of dwelling unknown;

2. sold more than once within a month;

3. selling price below €10,000 or above €5,000,000;

4. WOZ value unknown;

5. WOZ value below €10,000 or above €5,000,000;

6. unrealistic ratio between selling price and WOZ value.

New dwellings: unrealistic data is checked and cleaned if necessary. If variables used in the hedonic model are missing, the transaction is removed. unrealistic data is marked as 'to-check' when:

1. one of the characteristics is missing;

2. selling price is below €10,000 of above €5,000,000;

3. living area is less than 20m2 or greater than 400 m2;

4. the m2-price is unrealistic for the certain type of dwelling;

5. the value is different from the proposed categories.

See below.

See below.

HPI is a Laspeyres-type price index.

Chain linked Laspeyres aggregation.

For both existing and newly-built dwellings the weighting factors indicate each stratum’s share relative to the total transaction of dwellings in the base year. The weights are updated every year. The price of land is included in the weights. The total HPI weight of year t is based on dwelling transaction values of year t-1.

The weights are price updated according to the Laspeyres-type formula to the fourth quarter of T-1.

The HPI is chained on a yearly basis using the fourth quarter of the previous year as the linking period.

For the sub-index of existing dwellings the Sale Price Appraisal Ratio (SPAR) method is used to mimic the matched model approach, which is a well-accepted way to adjust for compositional mix changes. For the sub-index of new dwellings the  hedonic double imputation Fisher method is used.

For the sub-index of new dwellings the  hedonic double imputation Fisher method is used. Dependent variable: selling price of dwelling.

Independent variables: living area, type of dwelling, location, garage.

For the sub-index of existing dwellings the  SPAR method is used.

The sub-index of existing dwellings is currently based on 60 strata (provence X dwelling type). The sub-index of newly-built dwellings is currently not stratified.

See below.

For existing: Prices are recorded when the ownership transfers from the old owner to the new one. For new: Prices are recorded at the moment of sale (contract agreement).

VAT is included in the price of new dwellings.

Taxes other than VAT are not included in the price of dwellings.

House owners can deduct some of the costs of buying a house and the paid interest from their income tax. This applies to all house owners in the Netherlands, therefore no specific action is taken.

The data used for the compilation of the HPI, both for prices and weights, all include the underlying price of land, as recommended in the Manual.

All dwellings sold by housing cooperatives to households are covered in the HPI. A transaction price and appraisal are available so these transactions are treated like other transactions. Transactions between housing cooperatives or from households to housing cooperatives are not covered in the HPI.

Dwellings transacted by gifts are excluded from HPI coverage since there is no actual transaction price. New dwellings which are not sold to natural persons are excluded. Also moveable dwellings, such as houseboats and mobile homes, are excluded.

The source data only contains transactions of one property.

The source data only contains transactions of a whole property.

For new dwellings Cook's distance method is used for outlier detection.

Not applicable

No adjustments other than quality adjustment are applied to the HPI data.

None