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Commercial real estate risk supervision framework

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  • Daumantas Skinkys

    (Bank of Lithuania)

Abstract

Similar to eurozone as a whole, in Lithuania, the commercial real estate sector is closely linked with the financial system and the real economy: loans secured by commercial properties account for almost a third of the total bank loan portfolio, and the development of housing and other buildings creates about an eighth of Lithuania's GDP. However, so far both in Lithuania and across Europe, this sector has been supervised quite unsystematically, and the lack of harmonized indicators and data complicates monitoring at the international level. Aiming to ensure timely identification of risks to financial stability and improve international data comparability, the Bank of Lithuania, following the ESRB recommendation and methodology, has developed a commercial real estate market supervision framework. The main purpose of this article is to presents the developed framework. The article, alongside specific guidelines on how to consistently assess risks arising from the commercial real estate market, discusses methodological and data gaps that continue to pose challenges in ensuring a comprehensive risk assessment.

Suggested Citation

  • Daumantas Skinkys, 2024. "Commercial real estate risk supervision framework," Bank of Lithuania Occasional Paper Series 52, Bank of Lithuania.
    • Handle: RePEc:lie:opaper:52
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