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Description
The purpose of the Housing Price Index (HPI) is to measure the evolution of mechanting prices of free price housing, both new and second-hand, over time.
Since the HPI meets the demand for information in the scope of production of European Union harmonised statistics, another of its objectives is to serve as a element for comparison between EU member states, as regards the evolution of housing prices.
In this sense, the HPI was conceived under certain methodological parameters, based on concepts used for producing Harmonised Indices of Consumer Prices (HICP), which confers a high degree of comparability with indicators produced by other countries.
Source of HPI information
The HPI uses information on drafting of deeds from databases supplied by the General Council of Notaries, via the Notarial Certification Agency (ANCERT), a company incorporated by the Council for the purpose of computerising operations commonly carried out by Spanish notaries. Availability of this information has been possible thanks to the partnership agreement signed between the INE and the Council.
Population scope
The HPI population includes all physical persons, resident inside and outside Spain, who have acquired a dwelling within Spain in the reference period.
Merchantings carried out by legal entities (including financial institutions) do not form part of the HPI population scope.
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