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For any question on data and metadata, please contact: Eurostat user support |
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1.1. Contact organisation | Statistical Service of Cyprus (CYSTAT) |
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1.2. Contact organisation unit | Prices |
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1.5. Contact mail address | Statistical Service of Cyprus CY-1444 Nicosia Cyprus |
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2.1. Metadata last update | 26/01/2024 | ||
2.2. Metadata last certified | 26/01/2024 | ||
2.3. Metadata last posted | 26/01/2024 |
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3.1. Data description | |||
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. |
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3.2. Classification system | |||
The OOHPI is broken down into the following expenditure categories:
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3.3. Coverage - sector | |||
Households which are owner occupiers. |
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3.4. Statistical concepts and definitions | |||
The main statistical variables are price indices. |
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3.5. Statistical unit | |||
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. |
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3.6. Statistical population | |||
The owner occupied dwellings represent the Statistical population. |
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3.7. Reference area | |||
Government controlled areas of the Republic of Cyprus. There is not any regional analysis of the OOHPI. |
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3.8. Coverage - Time | |||
Time series on OOHPI starts from 2010. |
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3.9. Base period | |||
2015=100 |
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The following units are used:
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OOHPI is a quarterly statistics. |
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6.1. Institutional Mandate - legal acts and other agreements | |||
The EU legal act relating to the OOHPI is the Commission Regulation (EU) 2016/792 on harmonised indices of consumer prices and the house price index and repealing Council Regulation (EC) No 2494/95. The relevant piece of legislation is EU regulation 2023/1470. The national legal act relating to the OOHPI is the National Statistics Law No. 25(I) of 2021. Article 3 of the national Official Statistics Law, No. 25(I) of 2021 defines the functions of the Statistical Service of Cyprus regarding the production and dissemination of official statistics. Moreover, Article 13, explicitly stipulates the mandate for data collection and introduces a mandatory response to statistical enquiries by stipulating the obligation of respondents to reply to surveys and provide the data required. This relates not only to national but also to European statistics which, by virtue of Article 8 of the said Law, are incorporated in the annual and multiannual programmes of work without any further procedure. |
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6.2. Institutional Mandate - data sharing | |||
None. |
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7.1. Confidentiality - policy | |||
Official statistics are released in accordance to all confidentiality provisions of the following:
Links to all of the above documents should be attached (or the actual documents):
https://www.cystat.gov.cy/en/StaticPage?id=1074
http://ec.europa.eu/eurostat/web/products-manuals-and-guidelines/-/KS-32-11-955
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7.2. Confidentiality - data treatment | |||
The treatment of confidential data is regulated by CYSTAT's Code of Practice for the Collection, Publication and Storage of Statistical Data. The link is given below: |
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8.1. Release calendar | |||
Notifications about the dissemination of statistics are published in the release calendar, which is available on CYSTAT’s web portal. The annual release calendar, announced during the 4th quarter of the year, includes provisional dates of publication for the following year, which are finalized the week before publication. |
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8.2. Release calendar access | |||
Link to CYSTAT’s release calendar: |
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8.3. Release policy - user access | |||
According to the Dissemination and Pricing Policy of the Statistical Service of Cyprus (section 2.3) CYSTAT΄s main channel for dissemination of statistics is the website, which offers the same conditions to everyone and is updated at the same time every working day (12:00 noon). Privileged pre-released access (of no more than 1 day in advance) has been granted to a few selected users for specific statistics. These are specified in the Dissemination Policy (section 2.3). In addition to the annual release calendar, users are informed of the various statistical releases through the “Alert” service provided by CYSTAT.
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Quarterly (OOHPI) and annually (weights) |
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10.1. Dissemination format - News release | |||
Not applicable. |
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10.2. Dissemination format - Publications | |||
Not applicable |
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10.3. Dissemination format - online database | |||
Eurostat's database provides free access to OOHPI data. |
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10.4. Dissemination format - microdata access | |||
Statistical micro-data from CYSTAT’s surveys are accessible for research purposes only and under strict provisions as described below: Under the provisions of the Statistics Law, CYSTAT may release microdata for the sole use of scientific research. Applicants have to submit the request form "APPLICATION FOR DATA FOR RESEARCH PURPOSES" giving thorough information on the project for which micro-data are needed. The application is evaluated by CYSTAT’s Confidentiality Committee and if the application is approved, a charge is fixed according to the volume and time consumed for preparation of the data. Micro-data may then be released after an anonymisation process which ensures no direct identification of the statistical units but, at the same time, ensures usability of the data. The link for the application is attached below. |
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10.5. Dissemination format - other | |||
None. |
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10.6. Documentation on methodology | |||
OOHPI methodology is available on Eurostat’s website. |
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10.7. Quality management - documentation | |||
Not available. |
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11.1. Quality assurance | |||
The quality of statistics in CYSTAT is managed in the framework of the European Statistics Code of Practice which sets the standards for developing, producing and disseminating European Statistics as well as the ESS Quality Assurance Framework (QAF). CYSTAT endorses the Quality Declaration of the European Statistical System. In addition, CYSTAT is guided by the requirements provided for in Article 11 of the Statistics Law No. 25(I) of 2021 as well as Article 12 of Regulation (EC) No 223/2009 on European statistics, which sets out the quality criteria to be applied in the development, production and dissemination of European statistics.
http://ec.europa.eu/eurostat/web/products-manuals-and-guidelines/-/KS-32-11-955
https://www.cystat.gov.cy/en/StaticPage?id=1074
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11.2. Quality management - assessment | |||
The methodology used for the compilation of the OOHPI takes into consideration the framework described in the Technical manual on Owner-Occupied Housing and House Price Indices.
https://ec.europa.eu/eurostat/documents/7590317/0/Technical-Manual-OOH-HPI-2017/
One of the main problems for the compilation of the index is that the input data and figures obtained from other sectors of CYSTAT (e.g. the average cost per house and the number of new houses from the Building Permits) refer to the year t-2. |
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12.1. Relevance - User Needs | |||
The OOHPI interests all the users that follow the developments in the house price market. |
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12.2. Relevance - User Satisfaction | |||
Since 2008 (with the exception of 2010, 2013 and 2020) CYSTAT carries out an annual online “Users Satisfaction Survey”. The results of the surveys are available on CYSTAT’s website at the link attached below. Overall, the users of statistical data published by CYSTAT are satisfied.
Results of CYSTAT’s User Satisfaction Surveys: https://www.cystat.gov.cy/en/StaticPage?id=1144 |
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12.3. Completeness | |||
The Owner-Occupied Housing Price Index and all required sub-indices are transmitted to Eurostat quarterly. |
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13.1. Accuracy - overall | |||
No estimates for overall accuracy of OOHPI are produced. |
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13.2. Sampling error | |||
Not applicable. |
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13.3. Non-sampling error | |||
No estimates of non-sampling errors are produced. |
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14.1. Timeliness | |||
It is produced 80-85 days after the end of the reference period. |
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14.2. Punctuality | |||
OOHPI is transmitted to Eurostat within 85 days after the end of the reference period. |
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15.1. Comparability - geographical | |||
Not available. |
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15.2. Comparability - over time | |||
There are no breaks in continuity since the start of production. |
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15.3. Coherence - cross domain | |||
HPI for all dwellings and HPI for newly built dwellings are used as an input for OOHPI. Hence, OOHPI and sub-indices are checked for coherence with HPI and HPI for newly built dwellings. |
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15.4. Coherence - internal | |||
OOHPI is internally coherent. Higher level aggregations are derived from detailed indices using an SPSS code. |
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The is no burden on respondents since data from other surveys, administrative sources and external sources are used. |
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17.1. Data revision - policy | |||
A data revision policy is in place at CYSTAT. It is published on CYSTAT’s web portal, at the following link: https://www.cystat.gov.cy/en/StaticPage?id=1072
CYSTAT also publishes a list of scheduled revisions (regular or major revisions), also published on its web portal, at the following link: |
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17.2. Data revision - practice | |||
A revision of OOHPI is carried out once a year using all revised data available. |
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18.1. Source data | |||
See below. |
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18.1.1. Prices | |||
For the compilation of OOHPI, data from surveys and indices produced at CYSTAT as well as from external services/organizations are used. Construction Statistics (number of new houses, average cost per house, major repairs and Output Price Index in Construction), income from Services and Transport Survey for a specific nace code, sales and contracts of sales obtained from the Department of Lands and Surveys and the House Price Index are used. Additionally, data from the website of the Insurance Association of Cyprus are used. |
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18.1.2. Weights | |||
For the compilation of OOHPI weights, data from surveys and administrative sources as well as from external services/organizations are used. |
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18.2. Frequency of data collection | |||
Data are collected quarterly.
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18.3. Data collection | |||
Input data are collected from the Department of Lands and Surveys, the Insurance Association of Cyprus and other sectors of CYSTAT. |
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18.4. Data validation | |||
The inputs of OOHPI are indices and amounts prepared by other sectors of CYSTAT, the Insurance Association of Cyprus and the Department of Lands and Surveys. For the compilation of OOHPI and sub-indices, an SPSS code is used. A validation file with consistency tests is used to verify that there are no inconsistencies. |
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18.5. Data compilation | |||
See below. |
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18.5.1. Calculation and Aggregation | |||
See below. |
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18.5.1.1. Index formulae | |||
OOHPI is a Laspeyres-type price index. |
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18.5.1.2. Aggregation method | |||
The percentage changes of current quarter in comparison with the 4th quarter of the previous year are calculated and aggregated using weights. |
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18.5.1.3. Derivation of sub-index and elementary aggregate weights | |||
see 18.5.4 |
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18.5.1.4. Price updating | |||
The weights reference period is t-1 |
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18.5.1.5. Chaining and linking method | |||
OOHPI is a change-linked index |
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18.5.2. Other processing issues - OOH sub-indices for purchases of newly built dwellings and existing dwellings new to households | |||
See below. |
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18.5.2.1. Timing for pricing | |||
First binding contract. |
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18.5.2.2. Treatment of VAT | |||
VAT is included in the price of newly built dwellings. |
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18.5.2.3. Treatment of other taxes | |||
Other taxes are included in the price of dwellings. |
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18.5.2.4. Treatment of government subsidies | |||
No special treatment. |
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18.5.2.5. Treatment of land | |||
The value of land is excluded from the weight of category O.1.1.1.1 |
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18.5.2.6. Housing cooperatives | |||
Housing cooperatives are not included. |
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18.5.2.7. Treatment of non-market transactions | |||
Non-market transactions such as inheritances are not included in the analysis |
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18.5.2.8. Treatment of multi-object transactions | |||
Transactions that include more than one property are singled out by property |
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18.5.2.9. Treatment of fractional transactions | |||
Fractional transactions are excluded |
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18.5.3. Other processing issues - OOH sub-indices other than OOH sub-indices for purchases of newly built dwellings and existing dwellings new to households | |||
See below. |
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18.5.3.1. Elementary aggregate formulae | |||
The percentage changes of current quarter in comparison with the 4th quarter of the previous year are calculated and aggregated using weights. |
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18.5.3.2. Replacements | |||
Not applicable. |
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18.5.3.3. Quality adjustment | |||
A Rolling window hedonic model is used for the sub-indices O.1.1.1.1 and O.1.1.3 |
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18.5.3.4. Missing prices | |||
The are no transaction with missing prices in the DLS (Department of Lands and Surveys) files |
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18.5.3.5. Discounts and inducements | |||
not applicable |
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18.5.3.6. Zero prices | |||
Transactions with zero prices are excluded from the analysis |
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18.5.3.7. Treatment of VAT | |||
See 18.5.2. |
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18.6. Adjustment | |||
No seasonal adjustment is made. |
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None. |
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