What changed between the draft committee report and the plenary report

Removed:Recital 14 a (new): (14 a) The Multiannual Financial Framework (MFF) 2028-2034 encompasses the Single Market and Customs Programme, as the instrument to finance Union action supporting European statistics. That programme explicitly mentions as one of its objectives the development, production and dissemination of official European statistics, including non-financial commercial real estate statistics.

Added:Recital 6: (6) In this same 2019 Recommendation, the ESRB defined the physical commercial real estate as any income-producing real estate, either existing or under development, including rental housing; or real estate used by the owners of the property for conducting their business, purpose or activity, either existing or under construction; that is not classified as residential real estate. The definitions in this Regulation are aligned with those recommended by the ESRB in 2019.

Removed:Recital 16: (16) In order to take account of economic and technical developments, the power to adopt acts in accordance with Article 290 of the Treaty on the Functioning of the European Union should be delegated to the Commission, in order to amend the list of variables set out in Annex I. It is of particular importance that the Commission carries out appropriate consultations during its preparatory work, including at expert level, and that those consultations are conducted in accordance with the principles laid down in the Interinstitutional Agreement of 13 April 2016 on Better Law-Making (8 ). In particular, to ensure equal participation in the preparation of delegated acts, the European Parliament and the Council receive all documents at the same time as Member States' experts, and their experts systematically have access to meetings of Commission expert groups dealing with the preparation of delegated acts. When preparing those delegated acts, the Commission should consult the European Central Bank.

Added:Recital 10: (10) The NSIs and the Commission (Eurostat) should also be entitled to access and use new data sources, including privately held data, for statistical purposes, in accordance with Article 17b of Regulation (EC) No 223/2009, as amended by Regulation (EU) 2024/3018. Upon request, a private data holder should make data and the relevant metadata available free of charge to NSIs or to the Commission (Eurostat) where the data requested are strictly necessary for the development, production and dissemination of European statistics on non-financial commercial real estate and cannot be obtained by other means or their reuse will result in a considerable reduction in the response burden on data holders and other businesses. The right of national statistical institutes and the Commission to request data from private data holders should not entail a disproportionate economic burden for undertakings or associations.

Removed:Recital 18: (18) Where the application of this Regulation or of implementing acts adopted pursuant thereto would require major adaptations to a national statistical system of a Member State, the Commission should, in duly justified cases, be able to grant derogations to the Member State concerned. Such derogations should be temporary and granted for a maximum duration of two years. The Commission should provide support to the Member States concerned in their efforts to carry out the required adaptations to their statistical systems, in order to bring the derogations to an end as soon as possible.

Added:Recital 14: (14) Where new data requirements or improvements to data sets covered by this Regulation are needed in order to facilitate the effective monitoring of risks arising from the commercial real estate sector, pilot studies on vacancy rates and rental yields, to be carried out by the Member States, should be launched before 1 January 2029. Such studies should include a detailed assessment of potential costs for private data holders and public authorities. Member States should be able to carry out other pilot studies on a voluntary basis while ensuring country representation at Union level. Priority should be given in such pilot studies to data relating to short-term rental and its impact on commercial real estate.

Removed:Article 5 – paragraph 2: 2. Member States shall compile and transmit to the Commission (Eurostat), on a quarterly basis, data relevant to each variable referred to in paragraph 1.

Added:Recital 14 a (new): (14 a) The Multiannual Financial Framework (MFF) 2028-2034 encompasses the Single Market and Customs Programme as the instrument to finance Union action supporting European statistics. That programme explicitly mentions as one of its objectives the development, production and dissemination of official European statistics, including non-financial commercial real estate statistics.

Added:Recital 16: (16) Within the framework of the review clause and in order to take account of economic and technical developments, the Commission should undertake an assessment of the variables as set out in the Annex, including whether social housing distorts the monitoring of developments in the commercial real estate sector concerning financial stability, and of the need to break down some variables by social housing, as well as an assessment of pilot studies. / (deleted)

Removed:The European business statistics Regulation (Regulation (EU) 2019/2152) included real-estate statistics among the short-term business statistics. As mentioned in Annex II, data on real estate were reported quarterly or, optionally, monthly.

Added:Recital 17: (17) In order to ensure uniform conditions for the implementation of this Regulation with regard to the details of the variables, implementing powers should be conferred on the Commission. These implementing acts should concern only technical details and practical arrangements necessary for the application of this Regulation such as the establishment of formats, procedures for data transmission, security measures or technical specifications, including the determination of exceptions to the requirements of this Regulation. They should not give rise to any new reporting obligations for Member States or data providers or extended existing ones. Those powers should be exercised in accordance with Regulation (EU) No 182/2011 of the European Parliament and the Council (9 ).

Removed:Article 7 – paragraph -1 (new): -1. By 1 January 2028, the Commission (Eurostat) shall launch pilot studies on vacancy rates and rental yields in commercial real estate to be conducted by the Member States.

Added:Recital 18: (18) Where the application of this Regulation or of implementing acts adopted pursuant thereto would require major adaptations to a national statistical system of a Member State, in particular in cases where significant parts of the administrative procedures required for data collection have not yet been digitalised, the Commission should, in duly justified cases, be able to grant derogations to the Member State concerned. Such derogations should be temporary and granted for a maximum duration of four years. The Commission should provide support to the Member States concerned in their efforts to carry out the required adaptations to their statistical systems, in order to bring the derogations to an end as soon as possible.

Removed:Article 7 – paragraph 1: 1. Where the Commission (Eurostat) identifies a need for significant new data requirements or improvements to the data covered by this Regulation, it may launch pilot studies, to be carried out by the Member States, on a voluntary basis, before any new data collection. Such pilot studies may include, inter alia, the following topics:

Added:Article 2 – paragraph 1 – point 2 – point c: deleted

Removed:Article 7 – paragraph 1 – point a (new): (a) short-term rentals and their impact on commercial real estate;

Added:Article 3 – paragraph 2: When administrative data do not allow the production of statistics that meet the quality requirements laid down in Article 6 of this Regulation, Member States may use in addition any other relevant data sources, including surveys and data from private data holders, as well as scientifically based, well-documented and publicly available methods or innovative approaches, while avoiding excessive burden on respondents, including disproportionate economic burden.

Removed:Article 7 – paragraph 1 – point b (new): (b) prime and non-prime locations and their impact on the rental yield;

Added:Article 4 – paragraph 2: 2. The statistical units that provide information on commercial real estate shall cooperate in the collection or provision of information, as required. The statistical units shall provide timely, accurate and complete information needed for the production of the statistics provided for in this Regulation. The statistical units shall provide this information to the national statistical authorities responsible for compiling non-financial statistics on commercial real estate. The information shall be provided in electronic and machine-readable format.

Removed:Article 7 – paragraph 1 – point c (new): (c) the distinction between the private rental sector and social housing;

Added:Article 4 – paragraph 3: 3. Upon the request of the national statistical authorities responsible for compiling non-financial commercial real estate statistics, the statistical units shall provide, where available, electronic and machine-readable, records of transactions at the level of detail necessary to produce non-financial commercial real estate statistics.

Removed:Article 7 – paragraph 1 – point d (new): (d) the distinction between residential and non-residential commercial real estate.

Added:Article 4 – paragraph 4: 4. The NSIs and other national statistical authorities shall be allowed to access, use and integrate, free of charge, data and the relevant metadata from administrative data sources, databases, interoperability systems or any data relevant and necessary, in a timely manner and with sufficient frequency and granularity for the purpose of developing, producing and disseminating European statistics on non-financial commercial real estate, in accordance with Article 17a of Regulation (EC) No 223/2009, and in the case of use of data from private data holders, in accordance with Article 17e of that Regulation. Access to such data and metadata by the national statistical authorities responsible for compiling non-financial commercial real estate statistics shall be limited to administrative records within their own respective public administrative systems.

Removed:Article 9 – paragraph 4: 4. Before adopting a delegated act, the Commission shall consult experts designated by each Member State in accordance with the principles laid down in the Interinstitutional Agreement on Better Law-Making of 13 April 2016. The Commission shall consult the European Central Bank in a timely manner on all delegated and implementing acts that fall within its fields of competence.

Added:Article 4 – paragraph 5: 5. An NSI or the Commission (Eurostat) may request a private data holder to make data and the relevant metadata available free of charge, where the data requested are strictly necessary for the development, production and dissemination of European statistics on commercial real estate and cannot be obtained by other means or their reuse will result in a considerable reduction in the response burden on data holders and other businesses, in accordance with Article 17b of Regulation (EC) No 223/2009, and in the case of use of data from private data holders, in accordance with Article 17e of that Regulation. The transfer, publication, or any other use of non-anonymised data and metadata obtained from private data holders outside the competence of a NSI or the Commission (Eurostat) requires the explicit written consent of the respective private data holder.

Removed:Article 11 – paragraph 1: 1. Where the application of this Regulation or that of the implementing measures adopted pursuant thereto require major adaptations in a national statistical system of a Member State, the Commission may grant, by means of implementing acts, derogations to that Member State, for a maximum duration of two years.

Added:Article 5 – paragraph 2: 2. Member States shall compile and transmit to the Commission (Eurostat) data relevant to each variable referred to in paragraph 1. Where available, the data shall also be transmitted at NUTS 3 level.

Removed:Article 13 – paragraph 2 – subparagraph 1: It shall apply from 30 June 2026.

Added:Article 5 – paragraph 3: deleted

Added:Article 7 – paragraph -1 (new): -1. By 1 January 2029, the Commission (Eurostat) shall launch pilot studies on vacancy rates and rental yields in commercial real estate to be conducted by the Member States. Such studies shall include a detailed assessment of potential extra costs for both private data holders and public authorities.

Removed:The rapporteur welcomes the Commission proposal for a Regulation on non-financial commercial real estate statistics in order to fill the gap of statistical information related to commercial real estate, which are necessary for macro-prudential purposes and monitoring of systemic risk.

Added:Article 7 – paragraph 1 – subparagraph 1 a (new): Such pilot studies may include, inter alia, the following topics:

Removed:Developments in real estate markets can have repercussions on the stability of the financial system and on the overall economy. The current low availability of official resources of non-financial statistics on real estate makes it difficult for policymakers to assess potential risks to financial stability, as most of the information comes from private organisations. The rapporteur supports the development and the production of sound statistics for non-financial commercial real estate essential for macro-prudential oversight.

Added:Article 7 – paragraph 1 – point a (new): a) short-term rentals and their impact on commercial real estate;

Removed:The rapporteur understands the complexity of this market which make difficult to collect certain indicators but believes that pilot studies on rental yield indices and vacancy rates should be conducted by Member States in view of providing an environment to test new data sources and methodologies, allowing for careful evaluation of quality improvements of data. The rapporteur also recognises the importance of consulting the European Central Bank (ECB) when delegated and implementing acts needs to be adopted and in case these acts fall within the ECB field of competences. A gradual but efficient adaptation of the following regulation by the national statistical institutes in the Member States would improve the production of these statistics.

Added:Article 7 – paragraph 1 – point b (new): b) prime and non-prime locations and their impact on the rental yield;

Added:Article 7 – paragraph 1 – point c (new): c) the distinction between residential and non-residential commercial real estate;

Added:Article 7 – paragraph 1 – point d (new): d) the breakdown of the list of variables set out in the Annex by social housing.

Added:Article 7 – paragraph 2: 2. Pilot studies referred to in paragraph 1 shall be carried out in order to assess the relevance and feasibility of meeting the new data requirements or improvements and shall be conducted in a way that minimises the burden on private data holders. The Commission shall, where appropriate and taking into account the findings of the pilot studies, make proposals for introducing new data requirements.

Added:Article 9 – title: Review

Added:Article 9 – paragraph 1: deleted

Added:Article 9 – paragraph 1 a (new): 1a. By 31 December 2029, the Commission shall publish an assessment of the list of variables set out in the Annex, which shall also assess whether social housing distorts the monitoring of developments in the commercial real estate sector concerning financial stability, and of the need to break down variables (a) and (b) of the Annex by social housing. Where appropriate, the assessment shall be accompanied by a legislative proposal for an amendment of this Regulation.

Added:Article 9 – paragraph 2: deleted

Added:Article 9 – paragraph 2 a (new): 2a. By 31 December 2031, the Commission shall publish an assessment of the pilot studies set out in Article 7 . Where appropriate, the assessment shall be accompanied by a legislative proposal for an amendment of this Regulation.

Added:Article 9 – paragraph 3: deleted

Added:Article 9 – paragraph 4: deleted

Added:Article 9 – paragraph 5: deleted

Added:Article 9 – paragraph 6: deleted

Added:Article 11 – paragraph 1: 1. Where the application of this Regulation or that of the implementing measures adopted pursuant thereto require major adaptations in a national statistical system of a Member State, the Commission may grant, by means of implementing acts, derogations to that Member State, for a maximum duration of four years.

Added:Article 13 – paragraph 2 – subparagraph 1: It shall apply from 1 January 2028.