THE CROSSROAD OF HOUSING LOANS FINANCING - CASE OF ALBANIA

Iris Shahini () and Orfea Dhuci ()
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Iris Shahini: Economic University of Tirana, Accounting Department
Orfea Dhuci: Economic University of Tirana, Accounting Department

Regional Science Inquiry, 2013, vol. V, issue 2, 111-123

Abstract: The current economic crisis has highlighted that a well-functioning financial system is significantly important for economic growth. This study investigated factors affecting housing finance supply in Albania. Housing Finance is a major factor determining the quality and tenure of housing consumption, the overall financial portfolio of the public and the stability and effectiveness of the financial system (Diamond and Lea 1992a). Struyk and Turner (1986) and Stephens (2000 & 2002) argued that housing finance plays an important role in shaping each country’s wider housing system and the housing system takes important social and economic consequences. Then, it follows that the development of a viable housing finance system is of utmost importance in the developed economies. For a typical house-owner, the house is a major asset in his portfolio and for many household, the purchase of a house represents the largest (and often only) life long investment and a store of wealth (Goodman 1989; Sheppard 1999; Malpezzi

Keywords: mortgage lending; house market; non performing loans; retail deposits (search for similar items in EconPapers)
JEL-codes: E51 G01 G21 R31 (search for similar items in EconPapers)
Date: 2013
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Persistent link: https://EconPapers.repec.org/RePEc:hrs:journl:v:v:y:2013:i:2:p:111-123

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