The Private Housing Market in Eastern Europe and the CIS
AbstractThis 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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Bibliographic InfoPaper provided by UNECE in its series ECE Discussion Papers Series with number 2005_5.
Length: 38 pages
Date of creation: Dec 2005
Date of revision:
Publication status: Published in UNECE Discussion Paper Series, No. 2005_5
housing market; East Europe; CIS; housing prices; housing bubble; mortgage market;
Find related papers by JEL classification:
- P25 - Economic Systems - - Socialist Systems and Transition Economies - - - Urban, Rural, and Regional Economics
- G21 - Financial Economics - - Financial Institutions and Services - - - Banks; Other Depository Institutions; Micro Finance Institutions; Mortgages
- R31 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Real Estate Markets, Spatial Production Analysis, and Firm Location - - - Housing Supply and Markets
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