The International Monetary Fund has recognized the housing price index in Ukraine as insufficiently accurate. This is stated in the IMF report on the results of the April mission to Ukraine, Interfax-Ukraine writes.
►Subscribe to the “Minfina” page on Facebook: main financial news
The housing price index (HPI) characterizes the dynamics of the general level of housing prices in Ukraine. It is calculated for the country as a whole, as well as separately for new housing (primary market) and for housing that was in operation (secondary market), if it is the object of a sale and purchase agreement.
Gosstat receives data on the secondary market from the OLX platform.
The IMF mission proposed that Gosstat expand the scope of the data and include in the index real estate with an area of less than 30 square meters and more than three rooms, as well as houses.
In addition, the fund's specialists advised collecting more detailed information on the location of housing: in addition to the city and region, administrative districts and postal codes can also be taken into account, since these indicators have a significant impact on pricing.
Gosstat collects data on the primary market manually from developers' websites. Experts recommend expanding data collection in regions with low representativeness.
The document recommends excluding duplicate data from the index for existing real estate properties, but leaving them for new housing. This decision is explained by the fact that developers can offer similar apartments at the same price. In 2023, 75 duplicate ads were found on the secondary housing market and 17 on the primary market.
Housing insurance against “incidence”
- Real estate
