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Shedding light on commercial real estate markets with new European indicators
THE PROJECT
The CREI project aims to develop a set of non-financial indicators for the commercial real estate market across Europe. It addresses key data gaps by introducing indicators such as commercial property price index, rental price index, yields, and vacancy rates.
The project combines methodological development with practical implementation, supporting countries in identifying best practices for data collection and compilation. It also represents a major step forward in harmonising statistics in this domain, where comparable and reliable data have historically been limited.
In parallel, CREI supports the development of a dedicated legal framework, marking the first legislative initiative at European level focused specifically on commercial real estate statistics. The project is currently in a pilot and testing phase.
THE MOTIVATION
Commercial real estate plays a crucial role in financial stability, investment analysis, and economic policy, yet comparable and high-quality statistics in this area remain scarce at European level.
CREI responds to increasing user demand from policymakers, central banks, and analysts for robust and harmonised indicators. By filling existing data gaps, the project strengthens the evidence base for monitoring market developments and assessing risks.
The initiative also contributes to the broader objective of enhancing the ESS statistical portfolio in emerging and policy-relevant domains.
THE METHODOLOGY
The project follows a dual approach combining statistical development and regulatory advancement.
Key elements include:
Development of methodologies for new commercial real estate indicators
Identification and exchange of best practices for data collection and compilation
Pilot testing of indicators across participating countries
Close collaboration within expert groups, including the Task Force on CREI and the Real Estate Price Statistics Working Group
Preparation and support of a European legal act (basic regulation), currently under discussion in the trilogue process
This approach ensures both methodological robustness and long-term sustainability through a solid legal basis.
MORE INFORMATION
Dedicated CIRCA BC folder on CREI (project documents and exchanges) – https://circabc.europa.eu/ui/group/a49e1760-625a-46a1-98eb-1104d1695c8a/library/d09c827c-62a0-4318-b52d-84adb0c88eef?p=1&n=10&sort=name_ASC
Materials from the Task Force on CREI
Real Estate Price Statistics Working Group resources
Documentation related to the draft legal act under trilogue discussion
THE TEAM
- Eurostat (DMES)
- ESS National Statistical Institutes: HU, IE, IT, LU, MT, NL, PL, PT, SK, SI, NO, BE, BG, AT, DK, FI, DE, EL
- ESS groups: Task Force CREI; Real Estate Price Statistics Working Group
- Contact: ESTAT-REAL-ESTATE@ec.europa.eu (functional mailbox)
Last update: April 2026