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The Private Housing Market in Eastern Europe and the CIS

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Author Info

  • Jose Palacin

    ()
    (United Nations Economic Commission for Europe)

  • Robert Shelburne

    ()
    (United Nations Economic Commission for Europe)

Abstract

This study provides a broad overview of the private housing market in central and eastern Europe and some of the CIS – its history, current conditions and implications for the overall economy. It highlights regional differences, describes the different policy choices that have been made, and evaluates potential problem areas and the policy options for addressing them. The paper begins with a description of housing in these countries before and during their transition phase to market economies. The current state of the housing market in this region is then examined with an emphasis on its institutional development and size. Price trends throughout the region are analysed. A major objective is to ascertain the extent to which these markets are now similar to those observed in more developed western economies. The implications for the housing market resulting from the further integration of these countries into the global financial system are also explored.

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File URL: http://www.unece.org/fileadmin/DAM/oes/disc_papers/ECE_DP_2005-5.pdf
File Function: First version, 2005
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Bibliographic Info

Paper provided by UNECE in its series ECE Discussion Papers Series with number 2005_5.

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Length: 38 pages
Date of creation: Dec 2005
Date of revision:
Publication status: Published in UNECE Discussion Paper Series, No. 2005_5
Handle: RePEc:ece:dispap:2005_5

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Related research

Keywords: housing market; East Europe; CIS; housing prices; housing bubble; mortgage market;

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Cited by:
  1. Robert Shelburne & Jose Palacin, 2007. "Remittances in the CIS: Their Economic Implications and a New Estimation Procedure," ECE Discussion Papers Series 2007_5, UNECE.
  2. Balázs Egert & Dubravko Mihaljek, 2007. "Determinants of House Prices in Central and Eastern Europe," CESifo Working Paper Series 2152, CESifo Group Munich.
  3. Robert Shelburne & Jose Palacin, 2008. "Remittance Flows in the Transition Economies: Levels, Trends, and Determinants," ECE Discussion Papers Series 2008_5, UNECE.

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