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Prices and consumption, Economic Statistics.Sigrid Krogstrup Jensen
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Rent indices for commercial real estate (Experimental statistics)
The rent indices is based on a sample of commercial real estate that are privately rented. The sample covers app. 140,000 property units out of a population of app. 700,000 property units. The index is calculated by the match models method, i.e. the change in rent is measured by comparing the rent of the same property unit between two adjacent periods.
Source data
The data cover real estate categories residential, retail, offices and industry across most municipalities in Denmark. Data is contains the square meters and yearly rent per square meter for each property unit which is used for to calculate a monthly rent for the property unit. Only the units that exists in two consecutive periods are included in the aggregation of rent to the municipality level of which the change is measured. The rent index is based on a representative sample of privately owned properties in the categories residential, retail, offices and industry that are privately rented. The size of the sample is approximately 140,000 property units (app. 110,000 residential units, 9,000 retail units, 10,000 office units and 7,000 industry units) out of a population of app. 700,000.
Frequency of data collection
Quarterly.
Data collection
Data is collected by the Danish Property Federation and DEAS and sent to Statistics Denmark via an electronic business-to-business system.
Data validation
The received data material is cleaned by checking extreme changes in rent compared to the previous period, and by automatic non-plausible content in variables, e.g. zero square meter, that have static rules, and Statistics Denmark collaborate with the Danish Property Federation and DEAS, to enquire about changes within these set rules.
Data compilation
The average change in rent is estimated from strata for municipalities and commercial use (residential, retail, offices and industry); in total 392 strata (98 for each type of use). For each stratum the change in rent is calculated comparing the simple average rent of the current period with the simple average rent of the past period. Only property units that exists in both periods are included. From the municipality level, the indices are further aggregated using weights for each municipality for each commercial type. These weights are estimated with the population in each municipality and the simple average rent for the associated region for each commercial use.
Adjustment
No corrections are made beyond those mentioned in the Data compilation section.