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Assessing Residential Real Estate prices in Slovakia: Possible Approaches and Indices

Author

Listed:
  • Martin Cesnak

    (National Bank of Slovakia)

  • Jan Klacso

    (National Bank of Slovakia)

  • Patrik Kupkovic

    (National Bank of Slovakia)

  • Andrej Moravcik

    (National Bank of Slovakia)

  • Stefan Rychtarik

    (National Bank of Slovakia)

  • Roman Vrbovsky

    (National Bank of Slovakia)

Abstract

The residential real estate market in Slovakia is very important, both from the perspective of macroeconomy and financial stability. Home ownership is very high and housing loans form a large part of the banks’ assets. Therefore, the National Bank of Slovakia follows thoroughly the development on this market. Residential real estate data are quarterly published, and the development of real estate prices is assessed in regular publications, such as the Economic and Monetary Developments or the Financial Stability Report. For a better understanding of the development on this market, different indices have been developed. The list includes composite indices, housing affordability indices and macroeconomic models estimating fundamental prices or studying the impact of different shocks on real estate prices. This paper gives an overview of the recently used RRE-related indices and serves as a methodological note to the RRE dashboard that is available on the NBS website.

Suggested Citation

  • Martin Cesnak & Jan Klacso & Patrik Kupkovic & Andrej Moravcik & Stefan Rychtarik & Roman Vrbovsky, "undated". "Assessing Residential Real Estate prices in Slovakia: Possible Approaches and Indices," Working and Discussion Papers OP 1/2024, Research Department, National Bank of Slovakia.
    • Handle: RePEc:svk:wpaper:1103
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    More about this item

    JEL classification:

    • G12 - Financial Economics - - General Financial Markets - - - Asset Pricing; Trading Volume; Bond Interest Rates
    • E37 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Forecasting and Simulation: Models and Applications
    • R21 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Household Analysis - - - Housing Demand
    • 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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