Current risks in the CESEE residential property market: evidence from the OeNB Euro Survey

Elisabeth Beckmann, Antje Hildebrandt and Krisztina Jäger-Gyovai

Chapter 4 in Papers presented during the Narodowy Bank Polski Workshop: Recent trends in the real estate market and its analysis - 2015 edition, 2016, pp v1, 103-118 from Narodowy Bank Polski

Abstract: After a pronounced boom-bust cycle during the global financial crisis, house prices in Central, Eastern and Southeastern Europe (CESEE) are now recovering but still remain below precrisis levels. Evidence from the OeNB Euro Survey of households shows that every third household considers finding a new residence difficult, with the perceived difficulty being particularly high in areas of low bank penetration and among low income households and households whose highest level of education is primary education. Foreign currency mortgage holders are found to be more frequently in arrears in Hungary and Serbia than in other CESEE countries; the exchange rate and interest rate differential risks of foreign currency mortgages have increased in several countries, however. Loan arrears are high in general, and households in arrears are at their financial limits. At the same time, demand for housing loans is found to be increasing again.

Keywords: residential property markets; housing f inance; household survey; Central; Eastern and Southeastern Europe (search for similar items in EconPapers)
JEL-codes: D14 F36 P2 P5 R21 R3 (search for similar items in EconPapers)
Date: 2016
References: Add references at CitEc
Citations:

Downloads: (external link)
https://static.nbp.pl/publikacje/materialy-i-studia/243_en1.pdf
Our link check indicates that this URL is bad, the error code is: 404 Not Found

Related works:
Journal Article: Current risks in the CESEE residential property market: evidence from the OeNB Euro Survey (2015)
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:nbp:nbpchp:2-4

Access Statistics for this chapter

More chapters in Chapters from NBP Conference Publications from Narodowy Bank Polski Contact information at EDIRC.
Bibliographic data for series maintained by Jakub Growiec ().