Thailand - House Price Index for Existing Homes

Thailand: House Price Index for Existing Homes

Mnemonic	HPIX.ITHA
Unit	Index Jan2009=100, NSA
Adjustments	Not Seasonally Adjusted
	Monthly	0 %
Data	Sep 2021	153.7
	Aug 2021	153.7

Series Information

Source	The Bank of Thailand
Release	House Price Index (Commercial Bank Mortgage Loan)
Frequency	Monthly
Start Date	3/31/2008
End Date	9/30/2021

Thailand: Real Estate

	Reference	Last	Previous	Units	Frequency
Building Permits	Dec 2022	5,166	4,946	m², NSA	Monthly
House Price Index	Dec 2022	156.5	155.1	Index 2011=100 3-mo MA, NSA	Monthly
Non-residential Building Permits	Dec 2022	3,490	6,869	#, NSA	Monthly
House Price Index for Existing Homes	Sep 2021	153.7	153.7	Index Jan2009=100, NSA	Monthly

Release Information

Description

For Thailand, housing price indexes are compiled by the Real Estate Market Research Department, Real Estate Information Center, and reported by the Bank of Thailand.

Properties

Active:

Pool: Commercial banks
Measurement: Fixed-base index relative to 2011 (Index 2011=100)
Cumulation: Three-month moving average (3-mo MA)
Adjustment: Not seasonally adjusted (NSA)
Native frequency: Monthly
Start date: Uniformly 2011m1
Geo coverage:
- Country
- Bangkok metro region (ITHA_BNK6)
- Thailand excl. Bangkok metro region (ITHA_OTX6)
All concept-geo pairs exist: No

Predecessors:

Mortgages at commercial banks, 2009=100 - 2008m1 to 2021m9
Mortgages at GHB, 1991=100 - 1991Q1 to 2011Q2

In these statistics, the Bangkok Metropolitan Region (literally, "Bangkok and environs") is a political definition comprising six provinces: Bangkok itself, plus Nakhon Pathom, Nonthanburi, Pathum Thani, Samut Prakan, and Samut Sakhon.

Index 2011=100

The four indicators are now categorized as the residential property price index (RPPI) and land price index (LPI).

Index 2009=100

This set of house price indices comprises four indicators: single detached house with land, town house with land, condominium, and land.

The indexes were calculated from 17 commercial banks’ mortgage loan in Bangkok and vicinities (Bangkok, Samut Prakan, Nonthaburi, Pathum Thani, Nakhon Pathom and Samut Sakhon).

Single detached house with land, town house with land, and condominium price indexes were compiled by using rolling window and time dummy hedonic regressions method (3-month moving average), controlling four housing characteristics (age, stories, entrepreneur, and distance to metropolitan transportation services such as the Skytrain, the underground and expressway). The land price index has been constructed by stratification with monthly weight (3-month moving average).

Index 1991=100

They're based on the Government Housing Bank (GHB) appraisal database. GHB accounts for nearly 40% of total housing loans. The indexes are limited in that GHB loans comprise mostly the low-to-medium end of the housing market, and are concentrated on the periphery of central Bangkok and vicinity.

Revisions

Yes, when updated data become available.