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, Production Analysis, and Firm Location - - - Housing Supply and Markets
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- Balázs Égert & Dubravko Mihaljek, 2007.
"Determinants of house prices in central and eastern Europe,"
BIS Working Papers
236, Bank for International Settlements.
- Bal�zs �gert & Dubravko Mihaljek, 2007. "Determinants of House Prices in Central and Eastern Europe," Comparative Economic Studies, Palgrave Macmillan, vol. 49(3), pages 367-388, September.
- Balazs Egert & Dubravko Mihaljek, 2008. "Determinants of House Prices in Central and Eastern Europe," Working Papers 2008/1, Czech National Bank, Research Department.
- Balázs Egert & Dubravko Mihaljek, 2007. "Determinants of House Prices in Central and Eastern Europe," CESifo Working Paper Series 2152, CESifo Group Munich.
- Balazs Egert & Dubravko Mihaljek, 2007. "Determinants of House Prices in Central and Eastern Europe," William Davidson Institute Working Papers Series wp894, William Davidson Institute at the University of Michigan.
- Robert Shelburne & Jose Palacin, 2007. "Remittances in the CIS: Their Economic Implications and a New Estimation Procedure," ECE Discussion Papers Series 2007_5, UNECE.
- 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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