In October the National Statistical Institute has started work on ‘Real Estate Statistics’ project according to Grant agreement with the European Commission № 101016551-2020-BG-RES.
The project covers two activities. The first activity ‘Development of the subnational dimension of the house price index (HPI)’ aims to improve the production system of quarterly HPI by introducing new administrative data from the Cadaster Information System. This additional data source will complement the transactions of Property register with detail information on each property. The successful implementation of this activity will improve the coverage of HPI and will allow the production of reliable and comparable indices on sub-national level.
The main objective of the second activity ‘Commercial real estate indicators (prices and associated indicators)’ is to make a detail research on the current situation of the commercial real estate (CRE) market in Bulgaria - data sources, coverage and data quality. Participating in this project NSI will analyze the available microdata and calculate experimental CRE indicators by the possible dimensions. The successful implementation of the activity will put foundations for future work on the compilation and dissemination of harmonized statistics on the area of commercial real estates.
The duration of the actions will be 24 months and will end in September 2022.