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Praet: On the importance of real estate statistics
I am very pleased to open this session of the International Conference on Real Estate Statistics, which was organised by Eurostat in close cooperation with the ECB. The quality of real estate statistics is an issue not just of relevance to statisticians, but increasingly to policymakers, too. The real estate market has been shown to be a key transmitter of shocks in advanced economies[1] – and, by and large, the real estate market in the euro area as a whole is no different.Residential real estate (RRE) is the main component of euro area household wealth. Housing accounts for around 50% of asset holdings[2] and is ... (full story)