Rental price index for commercial properties
Updated: 11 December 2023
Next update: 11 December 2024
| Price index | Change from previous year | ||
|---|---|---|---|
| 2021 | 2022 | ||
| All properties | 127.0 | 131.1 | 3.2 |
| Shop/shopping mall | 119.3 | 120.8 | 1.3 |
| Hotel | 122.0 | 142.1 | 16.5 |
| Industry | 125.4 | 127.8 | 1.9 |
| Office | 125.6 | 127.8 | 1.8 |
| Warehouse | 143.1 | 149.7 | 4.6 |
| Workshop | 148.2 | 151.1 | 2.0 |
| Other | 134.0 | 137.8 | 2.8 |
More figures from this statistics
About the statistics
The purpose of the index is to measure the price development for commercial property rents, overall and for different types of properties.
The information under «About the statistics» was last updated 29 November 2021.
Area: The area is rented area. The tax payer could either fill out available area or gross area.
Price: The price is square meter price computed as total yearly rental income divided by rented area.
Type of property: Type of property is a classification variable showing the main use of the property and varies between “shop/shopping mall”, “hotel”, “industry”, “office”, “warehouse”, “workshop” and “othe”r.
Geographical centrality: Geographical centrality is a classification variable showing how central the municipality the property is situated in is, compared with communities of different sizes. The variable varies between “central municipalities”, “somewhat central municipalities”, “less central municipalities” and “not central municipalities”.
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Name: Rental price index for commercial properties
Topic: Prices and price indices
Division for Housing, Property, Spatial and Agricultural Statistics
National level
Yearly. The statistics will be published about 11 months after the end of the year. Reference point: 2010=100.
No demand for international reporting but in the Eurostat-OECD SPPI-manual (Methodological Guide for Developing Producer Price Indices for Services – Second edition) it is recommended to report price indices for this business also.
The data will be stored and researchers at approved research institutions can apply for access to data for a research Project.
The purpose of the index is to measure the price development for commercial property rents, overall and for different types of properties.
Statistics Norway will use the index to estimate output prices to deflate national accounts and to estimate the output of real estate activities. It is also important for businesses to have an official index figure to relate to when renting contracts are regulated.
No external users have access to the statistics and analyses before they are published and accessible simultaneously for all users on ssb.no at 8 am. Prior to this, a minimum of three months' advance notice is given in the Statistics Release Calendar.
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The Statistical Act §2-2, §2-3 and §3-2
No demand for international reporting but in the Eurostat-OECD SPPI-manual (Methodological Guide for Developing Producer Price Indices for Services – Second edition) it is recommended to report price indices for this business also.
The population is all commercial properties rented to commercial customers. The index measures the price change for the entire population of commercial properties, i.e. it is not restricted to new contracts. Many contracts are long term and are assumed regulated by the CPI between renegotiation.
Data is collected from the Tax questionnaire “RF-1098” sent to taxpayers and partnerships who own properties valued by regulation of 19. November 1999 nr 1158 (FSFIN) § 4-10.
Listed companies and fully owned daughters, companies exempted from tax duty and tenant farmers are not obliged to fill out the questionnaire. The tax payer should fill out one questionnaire for each property.
With the exemptions above it is a complete census.
Statistics Norway get access to the data from the tax questionnaire 11 months after the end of the counting year. It is taxpayers and partnerships who fill out the questionnaire and they are identified by social security number and organization number. The most important information filled out are:
- Id of the tax payer
- Municipality number
- Type of property
- Renal income
- Estimated yearly rental income
- Rental area
Properties with area under 1 square meter or rental income under 5 000 NOK and properties with rental income under 10 NOK per square meter are immediately removed from the data file. Then extreme values otside the 1st and 99.5th percentile in each type of property group are removed.
The price indices are computed with a method called quality adjusted unit value index. For a unit value index we compute a value for every commodity for each period in time and this value is compared with the equivalent value in the base period. The unit value is the value of the single commodity compared to the total value of that commodity in the sample.
The unit value index requires no changes in the basket of goods witch is not fulfilled in our case. Therefore we need to quality adjust the index formula to be able to use all observations in the yearly sample.
The index is stratified by geographically centrality and type of property and weighted by shares of total rental income.
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Single units cannot be identified in the dissemination.
The index series dates back to 2010 and the same calculation method has been used for the entire period.
Extreme observations are removed from the data file and among these it could be some correct figures.
Listed companies and fully owned daughters, companies exempted from tax duty and tenant farmers are not obliged to fill out the questionnaire. Among these businesses there are some important actors which is not included in the statistics.
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