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Market-Based Housing Finance Efficiency in the Czech Republic


  • Petr Sunega
  • Martin Lux


The article aims to analyse housing finance efficiency in the Czech Republic, especially so called 'intermediation efficiency'. 'Intermediation efficiency' applies to a set of institutional factors, risks (such as interest rate, credit and liquidity risks), government subsidies and legislative conditions that affect the cost of intermediating housing loans. The methodology of the research combined quantitative and qualitative surveys among mortgage lenders and housing-savings banks in the Czech Republic with an analysis of secondary data. The purpose of the research was to get an idea about how efficient the market-based housing finance in the Czech Republic is and to point out its potential weaknesses and shortcomings. Despite several shortcomings described in this article, the 'intermediation efficiency' of financial institutions providing housing loans in the Czech Republic could be considered relatively high.

Suggested Citation

  • Petr Sunega & Martin Lux, 2007. "Market-Based Housing Finance Efficiency in the Czech Republic," International Journal of Housing Policy, Taylor & Francis Journals, vol. 7(3), pages 241-273.
  • Handle: RePEc:taf:intjhp:v:7:y:2007:i:3:p:241-273 DOI: 10.1080/14616710701477888

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    References listed on IDEAS

    1. Karl E. Case & Robert J. Shiller, 1988. "The behavior of home buyers in boom and post-boom markets," New England Economic Review, Federal Reserve Bank of Boston, issue Nov, pages 29-46.
    2. Trevor Fitzpatrick & Kieran Mcquinn, 2007. "House Prices And Mortgage Credit: Empirical Evidence For Ireland," Manchester School, University of Manchester, vol. 75(1), pages 82-103, January.
    3. Irene de Greef & Ralph de Haas, 2002. "Housing Prices, Bank Lending, and Monetary Policy," Macroeconomics 0209010, EconWPA.
    4. Martins, Nuno C. & Villanueva, Ernesto, 2006. "The impact of mortgage interest-rate subsidies on household borrowing," Journal of Public Economics, Elsevier, vol. 90(8-9), pages 1601-1623, September.
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    Cited by:

    1. Hana M. Broulíková & Peter Huber & Josef Montag & Petr Sunega, 2018. "Homeownership, Mobility, and Unemployment. Evidence from Housing Privatisation," WIFO Working Papers 548, WIFO.


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