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Impact of the Global Crisis on Changing the Financing Rules of Residential Properties in Slovakia

Author

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  • Daniela Špirková

    (Slovak University of Technology in Bratislava, Real Estate Engineering Department, Institute of Management)

Abstract

The global financial crisis has dramatically changed from the basis not only rules of the real estate market financing, but also permanently changed the banking sector in many countries. Due to the crisis, banks have become more cautious in implementing the operations and money lending and effectively began to measure and evaluate the credit risk. Increase in risk also encouraged the adoption of agreements on capital adequacy and the establishment of prudential rules in banking institutions. In this context, the National Bank of Slovakia starts considering the changes in the credit financing of residential properties because of possible risk which is related to evolution of the value of the loan and real estate. This article focuses on the current situation on the residential market in the Slovak Republic in terms of interest rates, loan financing of new residential projects, housing affordability (Housing affordability index) as well as supply and demand

Suggested Citation

  • Daniela Špirková, 2014. "Impact of the Global Crisis on Changing the Financing Rules of Residential Properties in Slovakia," World of Real Estate Journal (Swiat Nieruchomosci), Fundacja Uniwersytetu Ekonomicznego w Krakowie, issue 90, pages 65-70, December.
    • Handle: RePEc:kra:journl:y:2014:i:90:p:65-70
    DOI: 10.14659/worej.2014.90.10
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    Keywords

    global financial crisis; residential Properties; financing rules; Slovak Republic;
    All these keywords.

    JEL classification:

    • G21 - Financial Economics - - Financial Institutions and Services - - - Banks; Other Depository Institutions; Micro Finance Institutions; Mortgages
    • R30 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Real Estate Markets, Spatial Production Analysis, and Firm Location - - - General

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