Description

The Housing Market Value (VMV) is an indicator that seeks to break down the market value of residential properties in the country between the land and the construction. This indicator complements the analysis of the real estate sector in Chile, providing a market price valuation of the country's housing stock.
This document presents a revised version of the indicator developed in Flores et al. (2018), through improvements in its calculation methodology, depuration, and imputation. As a result of the above, starting in 2023, this index will be published annually on the last business day of August in the experimental statistics
chapter of the Statistical Database of the Central Bank of Chile.
Regarding its results for 2022, it is observed that the value of the houses reached 1.7 times the value of the GDP, with construction being its most relevant component, representing 1.01 times the value of the GDP. For its part, the value of the lands reached 0.69 times the value of the GDP.
The content of this publication is part of the Experimental Statistics project of the Central Bank of Chile, through which statistics are produced and published that are in the process of development or consolidation – which could be reflected in significant revisions to the published series – and which are characterized by their innovative nature, whether in information sources, statistical methods, and/or the scope of study.