House price index in real terms (RHPI) of the Benelux region 2010-2019

This statistic shows the house price index in real terms (RHPI) of the Benelux countries (Belgium, Luxembourg and the Netherlands) from the first quarter of 2010 to the second quarter of 2019. The RHPI measures price changes of single-family properties, adjusted for the impact of inflation. Real values are calculated using the so-called Personal Consumption Expenditure Deflator (PCE). This PCE, so the theory goes, includes expenditures that are not counted in the Consumer Price Index(CPI), such as medical and health care expenses paid by employers and other national health programs. Because the RHPI adjusts for house-buying power, it is also a measure of housing affordability.

In the second quarter of 2019, housing prices in real terms in Luxembourg reached an index of approximately 150.9. In 2016, approximately 50 percent of the respondents from the Netherlands believed housing prices were expensive, compared to approximately 90 percent of the respondents from Luxembourg.

House price index in real terms (RHPI) of Belgium, Luxembourg and the Netherlands (Benelux) from 1st quarter 2010 to 2nd quarter 2019

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Source

Release date

October 2019

Region

Belgium, Luxembourg, Netherlands

Survey time period

Q1 2010 to Q2 2019

Supplementary notes

Index value 2005 equals 100. The year 2005 is the base year used to calculate the index value. The source states it uses a "house price index for each country that is most consistent with the quarterly U.S. house price index for existing single-family houses produced by the Federal Housing Finance Agency. We extend the preferred series for each country back to first quarter 1975 either with historical data or with data from secondary sources. Each country’s house price index is seasonally adjusted over the entire sample period with an unobserved components time series model and then rebased to 2005 = 100."

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Statistics on "Real estate in Luxembourg"

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