Vietnam: Technical Assistance Report-Report on Residential Property Price Index Mission (April 22-26, 2024)

At the request of the Government Statistics Office (GSO), a technical assistance mission was conducted between April 22–26, 2024 to assist with the ongoing development of a Residential Property Price Index (RPPI). This was the fourth mission to assist the GSO with developing an RPPI and continues the progress made during a virtual mission held in 2021. The mission was funded by the Data for Decisions (D4D) Fund. In the absence of suitable administrative data on property transactions, the GSO has assessed the potential for using both a survey of property and sellers and online property listings to underpin the compilation of an RPPI. Recent taxation developments might increase the potential for using administrative data on property transactions in the future. While previously, these taxation data on property transactions were in paper format and suffered from under-reporting of transaction prices, electronic reporting of property transactions is gradually being extended to national coverage and legal changes might reduce the incidence of under-reporting of prices.