Euro area house price developments during the coronavirus pandemic

Moreno Roma

Economic Bulletin Boxes, 2021, vol. 4

Abstract: During the pandemic, euro area house price dynamics remained robust, notwithstanding a general deterioration in macroeconomic conditions. The pandemic has caused the number of housing transactions to fall, triggering a quantity adjustment rather than a price adjustment. Favourable financing conditions and fiscal policies are supporting household income and have cushioned negative effects on house prices. Moreover, weak construction activity since the start of the pandemic has weighed on supply, possibly adding to upward price pressures on existing housing. The observed resilience of euro area house prices appears to be broad-based and not limited to developments in capital cities in the euro area. JEL Classification: E31

Keywords: house price cycles; House prices (search for similar items in EconPapers)
Date: 2021-06
Note: 337417
References: Add references at CitEc
Citations: View citations in EconPapers (1)

Downloads: (external link)
https://www.ecb.europa.eu//pub/economic-bulletin/f ... 5~681f95e295.en.html (text/html)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:ecb:ecbbox:2021:0004:5

Access Statistics for this article

More articles in Economic Bulletin Boxes from European Central Bank 60640 Frankfurt am Main, Germany. Contact information at EDIRC.
Bibliographic data for series maintained by Official Publications ().