Homeownership and housing finance patterns one generation after the fall of communism

Elisabeth Beckmann, Christa Hainz, William Pyle and Sarah Reiter ()
Additional contact information
Sarah Reiter: Oesterreichische Nationalbank, Off-Site Supervision Division – Significant Institutions, https://www.oenb.at/

Focus on European Economic Integration, 2019, issue Q4/19, 79-101

Abstract: Drawing on a recent wave of the OeNB Euro Survey, we document current homeownership patterns across ten countries in Central, Eastern and Southeastern Europe (CESEE-10), the demographic characteristics of homeowners and the connections between their housing assets and the household credit market. Due to the experience of Central, Eastern and Southeastern Europe (CESEE) with both communism and postcommunist privatization reforms, homeownership rates in the CESEE countries are among the highest in Europe. However, the demographic characteristics of homeowners we observe in the CESEE-10 now largely resemble those observed in more mature market settings. Despite high homeownership rates, the percentage of CESEE-10 households with housing loans is relatively small and homeowners infrequently use their dwellings to secure housing loans. However, we find that homeowners do use real estate as collateral for loans that are not used to finance house purchases.

Keywords: housing; residential real estate; household assets; personal finance; CESEE (search for similar items in EconPapers)
JEL-codes: D14 G21 P30 R31 (search for similar items in EconPapers)
Date: 2019
References: Add references at CitEc
Citations: View citations in EconPapers (2)

Downloads: (external link)
https://www.oenb.at/dam/jcr:76f1be60-7aee-41b4-a9f ... nance%20patterns.pdf (application/pdf)

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:onb:oenbfi:y:2019:i:q4/19:b:2

Ordering information: This journal article can be ordered from
Oesterreichische Nationalbank, Documentation Management and Communications Services, Otto-Wagner Platz 3, A-1090 Vienna, Austria

Access Statistics for this article

Focus on European Economic Integration is currently edited by Julia Wörz and Elisabeth Beckmann

More articles in Focus on European Economic Integration from Oesterreichische Nationalbank (Austrian Central Bank) P.O. Box 61, A-1011 Vienna, Austria. Contact information at EDIRC.
Bibliographic data for series maintained by Elisabeth Beckmann ().