Course on Residential Property Price Indices (RPPIs)

This event was jointly organized by CEMLA and the International Monetary Fund (IMF) from March 23 to 26, 2026, at CEMLA's facilities in Mexico City, with speakers from the IMF's Statistics Department. The course highlighted the importance of having a Residential Property Price Index (RPPI), identified its main uses, examined the data sources and methods necessary for its compilation, and clarified the relevant aspects for its application. It also addressed the selection of the most appropriate method for compiling the HPI based on the available data.

Among the methodological aspects, special attention was given to the problem of combining different property qualities; that is, how changes in the composition of properties traded in each period can generate biases in the measurement of average price variations. The course analyzed how to address these problems arising from changes in the composition of properties traded using stratification methods and hedonic regressions. The course followed the principles established in the Residential Property Price Index (RPPI) Manual, published by Eurostat, the International Labour Organization, the IMF, the Organisation for Economic Co-operation and Development, the United Nations Economic Commission for Europe, and the World Bank. The practical aspects of RPPI development were based on the 2020 Residential Property Price Index Practical Compilation Guide, published by the IMF.

The program included workshops with practical exercises and case studies among the participants, using data available for their respective countries. The course was attended by 24 participants from 14 Latin American and Caribbean countries, both Spanish- and English-speaking, in addition to the instructors.