Commission Implementing Regulation (EU) 2023/1470 of 17 July 2023 laying down the methodological and technical specifications in accordance with Regulation (EU) 2016/792 of the European Parliament and of the Council as regards the house price index and the owner-occupied housing price index, and amending Commission Regulation (EU) 2020/1148 (Text with EEA relevance)
Commission Implementing Regulation (EU) 2023/1470of 17 July 2023laying down the methodological and technical specifications in accordance with Regulation (EU) 2016/792 of the European Parliament and of the Council as regards the house price index and the owner-occupied housing price index, and amending Commission Regulation (EU) 2020/1148(Text with EEA relevance)THE EUROPEAN COMMISSION,Having regard to the Treaty on the Functioning of the European Union,Having regard to Regulation (EU) 2016/792 of the European Parliament and of the Council of 11 May 2016 on harmonised indices of consumer prices and the house price index, and repealing Council Regulation (EC) No 2494/95OJ L 135, 24.5.2016, p. 11., and in particular Articles 3(9), 3(10), 4(4), 7(6) and 9(4) thereof,Whereas:(1)Regulation (EU) 2016/792 lays down a common framework for the production of the harmonised index of consumer prices (HICP), the harmonised index of consumer prices at constant tax rates (HICP-CT), the owner-occupied housing (OOH) price index and the house price index (HPI).(2)Pursuant to Article 3(9) of Regulation (EU) 2016/792, the Commission is to adopt implementing acts specifying the breakdowns of the HPI and the OOH price index.(3)Pursuant to Article 3(10) of Regulation (EU) 2016/792, Member States are to update annually sub-index weights for the HPI and the OOH price index. Therefore, it is necessary to specify uniform conditions for the quality of weights of the harmonised indices.(4)In accordance with Article 3(2) of Regulation (EU) 2016/792, the HPI and the OOH price index are to be annually chain-linked Laspeyres-type indices. Therefore, pursuant to Article 4(4)(iv) of Regulation (EU) 2016/792, the Commission should further specify methods for the compilation of sub-indices and elementary price indices.(5)Price indices related to purchases of dwellings should be representative of all relevant transactions. Therefore, pursuant to Article 4(4)(i) of Regulation (EU) 2016/792, the Commission should further specify rules for the representativity of the data sources used.(6)Price indices related to purchases of dwellings should not be affected by quality differences between transacted dwellings. Therefore, pursuant to Article 4(4)(ii) and (iv) of Regulation (EU) 2016/792, the Commission should further specify rules for data collection and index compilation.(7)In accordance with Article 2(10) of Regulation (EU) 2016/792, the HPI measures changes in transaction prices of dwellings purchased by households. Therefore, pursuant to Article 4(4)(ii) of Regulation (EU) 2016/792, the Commission should further specify rules on treatment of prices used in the calculation of the HPI.(8)The OOH price index aims at improving the relevance and comparability of the HICP. Therefore, for the compilation of the OOH price index, it is necessary to specify a methodological framework that is consistent with a methodological framework for the compilation of the HICP.(9)In its report on the suitability of the OOH price index for integration into the HICP coverageReport from the Commission to the European Parliament and the Council on the suitability of the owner-occupied housing (OOH) price index for integration into the harmonised index of consumer prices (HICP) coverage, COM(2018)768., the Commission assessed that the OOH price index is currently not suitable for integration into the coverage of the HICP. In accordance with Article 3(7) of Regulation (EU) 2016/792 and in close cooperation with the European Central Bank and the Member States, the Commission should pursue the methodological work required for the integration of the OOH price index into the HICP coverage.(10)Since it is not possible to observe all transactions of the target universe of the OOH price index, the Commission, pursuant to Article 4(4)(i) of Regulation (EU) 2016/792, should further specify rules for sampling.(11)In accordance with Article 2(9) of Regulation (EU) 2016/792, the OOH price index measures changes in the transaction prices of dwellings new to the household sector and of other products that the households acquire in their role as owner-occupiers. Therefore, pursuant to Article 4(4)(ii) of Regulation (EU) 2016/792, the Commission should further specify rules for the treatment of prices used in the calculation of the OOH price index.(12)The OOH price index should provide a measure of pure change in prices that is unaffected by quality change. Therefore, pursuant to Article 4(4)(iii) of Regulation (EU) 2016/792, the Commission should further specify rules for replacements and quality adjustments that should be applied in relation to products other than dwellings.(13)In accordance with Article 7(5) of Regulation (EU) 2016/792, the HPI, the OOH price index and their sub-indices that have already been published may be revised. Therefore, pursuant to Article 7(6) of Regulation (EU) 2016/792, the Commission should specify the uniform conditions for the revision of the HPI, the OOH price index and their sub-indices.(14)In accordance with Article 9(2) of Regulation (EU) 2016/792, Member States are to provide Eurostat with standard quality reports and inventories. Therefore, pursuant to Article 9(4) of Regulation (EU) 2016/792, the Commission should establish the deadline for providing these reports and inventories.(15)Pursuant to Article 7(4) of Regulation (EU) 2016/792, Member States should provide data and metadata to the Commission (Eurostat) in accordance with specified exchange standards and procedures. Therefore, pursuant to Article 7(6) of Regulation (EU) 2016/792, the Commission should specify the data and metadata exchange standards.(16)Commission Regulation (EU) 2020/1148Commission Implementing Regulation (EU) 2020/1148 of 31 July 2020 laying down the methodological and technical specifications in accordance with Regulation (EU) 2016/792 of the European Parliament and of the Council as regards harmonised indices of consumer prices and the house price index (OJ L 252, 4.8.2020, p. 12). should therefore be amended.(17)It is appropriate to set a transitional period to take into account the specific situation of competent authorities in the Member States that need to make the necessary arrangements to ensure compliance with this Regulation.(18)The measures provided for in this Regulation are in accordance with the opinion of the European Statistical System Committee established by Article 7 of Regulation (EC) No 223/2009 of the European Parliament and of the CouncilRegulation (EC) No 223/2009 of the European Parliament and of the Council of 11 March 2009 on European statistics and repealing Regulation (EC, Euratom) No 1101/2008 of the European Parliament and of the Council on the transmission of data subject to statistical confidentiality to the Statistical Office of the European Communities, Council Regulation (EC) No 322/97 on Community Statistics, and Council Decision 89/382/EEC, Euratom establishing a Committee on the Statistical Programmes of the European Communities (OJ L 87, 31.3.2009, p. 164).,HAS ADOPTED THIS REGULATION: