Overview

Capital market and banking sector reforms have been proceeding at different speeds and scales in transition economies. Housing finance markets in this region are typically small in scale and under-developed, though it is generally recognised that fostering housing finance markets contributes to economic development and brings social benefits to the public. Taking account of the unfavourable environment for households in terms of income level, house prices and loan interest rates in the region, enhancing access to housing finance for low- and middle-income households is a key to developing these markets. In particular, mortgage lending that makes use of the property as collateral is a very important method of housing finance in terms of risk management in the region. Housing Finance Markets in Transition Economies contains a comparative study on housing finance markets in central and eastern European countries. This study is based on an OECD market survey conducted in 2004 and on selected country data prepared for the OECD workshop on housing finance in transition economies, held in December 2004. It reports on the progress and challenges in housing finance markets in Croatia, the Czech Republic, Estonia, Hungary, Kazakhstan, Lithuania, Latvia, Poland, Romania, the Slovak Republic, Slovenia and Ukraine.

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