The RHPI measures price changes of single-family properties, adjusted for the impact of inflation. Real values are calculated using the so-called Personal Consumption Expenditure Deflator (PCE). This PCE, so the theory goes, includes expenditures that are not counted in the Consumer Price Index(CPI), such as medical and health care expenses paid by employers and other national health programs. Because the RHPI adjusts for house-buying power, it is also a measure of housing affordability. In the fourth quarter of 2022, housing prices in real terms in Luxembourg reached an index of approximately 187.5 index points.
House price index in real terms (RHPI) of Belgium, Luxembourg and the Netherlands (Benelux) from 1st quarter 2010 to 4th quarter 2022
Index value 2005 equals 100. The year 2005 is the base year used to calculate the index value. The source states it uses a "house price index for each country that is most consistent with the quarterly U.S. house price index for existing single-family houses produced by the Federal Housing Finance Agency. We extend the preferred series for each country back to first quarter 1975 either with historical data or with data from secondary sources. Each country’s house price index is seasonally adjusted over the entire sample period with an unobserved components time series model and then rebased to 2005 = 100."
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Dallas Fed. (May 16, 2023). House price index in real terms (RHPI) of Belgium, Luxembourg and the Netherlands (Benelux) from 1st quarter 2010 to 4th quarter 2022 [Graph]. In Statista. Retrieved December 22, 2024, from https://www.statista.com/statistics/597653/house-price-index-in-real-terms-rhpi-of-the-benelux/
Dallas Fed. "House price index in real terms (RHPI) of Belgium, Luxembourg and the Netherlands (Benelux) from 1st quarter 2010 to 4th quarter 2022." Chart. May 16, 2023. Statista. Accessed December 22, 2024. https://www.statista.com/statistics/597653/house-price-index-in-real-terms-rhpi-of-the-benelux/
Dallas Fed. (2023). House price index in real terms (RHPI) of Belgium, Luxembourg and the Netherlands (Benelux) from 1st quarter 2010 to 4th quarter 2022. Statista. Statista Inc.. Accessed: December 22, 2024. https://www.statista.com/statistics/597653/house-price-index-in-real-terms-rhpi-of-the-benelux/
Dallas Fed. "House Price Index in Real Terms (Rhpi) of Belgium, Luxembourg and The Netherlands (Benelux) from 1st Quarter 2010 to 4th Quarter 2022." Statista, Statista Inc., 16 May 2023, https://www.statista.com/statistics/597653/house-price-index-in-real-terms-rhpi-of-the-benelux/
Dallas Fed, House price index in real terms (RHPI) of Belgium, Luxembourg and the Netherlands (Benelux) from 1st quarter 2010 to 4th quarter 2022 Statista, https://www.statista.com/statistics/597653/house-price-index-in-real-terms-rhpi-of-the-benelux/ (last visited December 22, 2024)
House price index in real terms (RHPI) of Belgium, Luxembourg and the Netherlands (Benelux) from 1st quarter 2010 to 4th quarter 2022 [Graph], Dallas Fed, May 16, 2023. [Online]. Available: https://www.statista.com/statistics/597653/house-price-index-in-real-terms-rhpi-of-the-benelux/
