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Measuring Housing Services : Thailand’s Experience

Measuring Housing Services : Thailand’s Experience. Introduction. CPI = Compiled by Bureau of Trade & Economic Indices, Ministry of Commerce Frequency = monthly Timeliness = 1 month Chained Laspeyres Index 2007 = benchmark year Weight = re-assessed every 5 years. Introduction.

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Measuring Housing Services : Thailand’s Experience

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  1. Measuring Housing Services:Thailand’s Experience

  2. Introduction • CPI = Compiled by Bureau of Trade & Economic Indices, Ministry of Commerce • Frequency = monthly • Timeliness = 1 month • Chained Laspeyres Index2007 = benchmark yearWeight = re-assessed every 5 years

  3. Introduction • Categories and Subcategories under CPI

  4. Measuring Housing Service • Share = 23.48% in CPI (@ 2007)

  5. Measuring Housing Service

  6. Measuring Housing Service Total Samples :2,079 BANGKOK = 515 CENTRAL = 447 NORTH = 372 NORTHEAST = 349 SOUTH = 396

  7. Measuring Housing Service • Coverage : 7 categories of housing Detached house Townhouse (residential) Row house (commercial) Room for rent Apartment / Condominium Single-storied row house with shared facilities Owner occupied housing (OOH)

  8. Measuring Housing Service • Items 1-6 : Survey- 2,079 samples- Samples reviewed every 10 years : 60% = old samples 40% = new samples Rollout by region in 3 phases • Calculate Drental by housing category

  9. Measuring Housing Service • Item 7 : OOH = new!!- Starting this year- Scheduled to be released @end-2009 • Also survey-based- Nationwide (same as Items 1-6)- Implicit rental = assessed by owner

  10. FAQ • Quality of measurement of rental values- Actual rental- Small sample size (due to budget constraints) • Methods of capturing OOH- Through survey- Self-assessed rental • Importance of house price indicators- reflect the phenomena in the real estate business - analytical framework of other sectors- assessment of macroeconomic stability- construction of leading indicators

  11. FAQ • Implications of inclusion of OOH- OOH comprises a good portion among the 7 categories- reflect the opportunity costs for the owner- indirect effect on CPI

  12. Thank you chanidan@bot.or.th

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