Real Estate Price Measurement Since the Global Financial Crisis: Methods, Data and Policy Developments
Year: 2026
Type: article
Abstract: ABSTRACT The global financial crisis (GFC) highlighted the crucial role of real estate markets for financial stability and revealed significant weaknesses in the quality, timeliness, and coverage of real estate price indices. Since then, policymakers and statistical institutes have expanded the scope of residential and commercial real estate statistics and strengthened methodological guidance. This paper reviews key developments in real estate price measurement since the GFC, covering data availability, index methodology, and institutional infrastructure. We compare the strengths and weaknesses of the main index construction methods, including hedonic, repeat sales, hybrid and state‐space approaches, and discuss their relevance for both financial stability monitoring and cost‐of‐living measurement. Special attention is given to the challenges involved in compiling commercial real estate (CRE) price indices. We also examine new data sources—such as list prices, energy performance certificates and geospatial information—and recent work integrating machine learning tools into index compilation.
Source: Review of Income and Wealth
DOI: 10.1111/roiw.70055
Authors: Robert J. Hill, Miriam Steurer
Institution: University of Graz
Language: English
Topic: Housing Market and Economics
Subfield: Economics and Econometrics
Domain: Social Sciences
Open Access status: hybrid
Estimated APC paid: $3,300
OpenAlex ID: W7128080553