Handbook on Commercial Property Price Indicators
Conference dates: Monday, 29 and Tuesday, 30 September 2014
Meeting room: Japan Tower, conference room Tokyo
Venue: European Central Bank, Frankfurt am Main
Workshop Agenda
9 a.m. | Registration |
9.15 a.m. | Welcome address |
Session 1 CPPI Handbook: main conceptual issues |
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9.45 a.m. | What is commercial property? Concepts and classification
presentation Chihiro Shimizu, Professor at Reitaku University and University of British Columbia Discussant: Tjeerd Jellema, Head of Section General Economic Statistics, Macroeconomic Statistics Division, European Central Bank presentation |
10.45 a.m. | Coffee break |
11.05 a.m. | What should CPPIs measure? Price indices and other indicators
presentation David Geltner, Professor of Real Estate Finance at Massachusetts Institute of Technology Discussants: Mick Silver, Principal Statistical Methodologist, International Monetary Fund presentation, Niall O’Hanlon, Head of Prices Division, CSO Ireland presentation |
12.45 a.m. | Lunch |
Session 2 CPPI Handbook: methods for compiling CCPIs |
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2 p.m. | Transaction-based price indices
presentation Marc Francke, Professor of Real Estate Valuation at the University of Amsterdam Discussant: Branko Pavlin, Senior Adviser at Price Statistics Department, Statistical Office of the Republic of Slovenia presentation |
3.30 p.m. | Appraisal-based price indices
presentation Marc Francke, Professor of Real Estate Valuation at the University of Amsterdam Discussant: Jakob Holmgaard, Expert, Statistics Denmark presentation |
4.15 p.m. | Coffee break |
4.35 p.m. | Indicators based on stock market prices
presentation David Geltner, Professor of Real Estate Finance at Massachusetts Institute of Technology Appraisal-based indicators of investment return presentation Marc Francke, Professor of Real Estate Valuation at the University of Amsterdam Discussant: Mick Silver, Principal Statistical Methodologist, International Monetary Fund presentation |
Session 3 CPPI Handbook: land/structures decomposition; Data sources for CPPIs |
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9 a.m. | Decomposing a CPPI into land and structures components
presentation Erwin Diewert, Professor at the School of Economics, University of British Columbia Chihiro Shimizu, Professor at Reitaku University and University of British Columbia Discussant: Niall O’Hanlon, Head of Prices Division, CSO Ireland presentation |
10 a.m. | Data sources for transactions and appraisals: Practical challenges/difficulties
presentation David Fenwick, International expert in price statistics Discussant: Farley Ishaak, Statistical researcher, Statistics Netherlands presentation |
11.15 a.m. | Coffee break |
11.30 p.m. | Summing up and way forward
presentation David Baran, Expert in consumer price statistics |
12.20 a.m. | Lunch |
Session 4 CPPIs for the euro area |
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1.45 p.m. | Overview - introduction - progress made: Use and usability of indicators for commercial property prices
presentation Andrew Kanutin, Principal Economist Statistician, General Economic Statistics, Macroeconomic Statistics Division, European Central Bank |
2.30 p.m. | Developments in the field of market data providers
presentation Ian Cullen, Advisory Director, MSCI / IPD |
3.15 p.m. | Coffee break |
3.30 p.m. | Developments in the field of national indices Commercial property prices: A case study on Germany presentation Jens Mehrhoff, Head of Section Business Cycle, Price and Property Market Statistics, Deutsche Bundesbank Commercial Property Price Indicators for the German Real Estate Market – vdp Price Indices (not presented due to unforeseen circumstances) presentation Andreas Kunert, Senior Analyst Immobilienmarktforschung, vdp Research GmbH |
4.15 p.m. | Over the horizon: from recommendations to improvements in implementation?
presentation Tjeerd Jellema, Head of Section General Economic Statistics, Macroeconomic Statistics Division, European Central Bank |
5.00 p.m. | Session summing up Gabriel Quirós, Head of Division - Macroeconomic Statistics Division, European Central Bank |
5.15 p.m. | Workshop summing up Joachim Recktenwald, Head of Unit - Price statistics, Purchasing power parities, Housing statistics, Eurostat Gabriel Quirós, Head of Division - Macroeconomic Statistics Division, European Central Bank |
5.45 p.m. | End of workshop |