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作者

Martins, António Miguel;Serra, Ana Paula;Martins, Francisco Vitorino;Stevenson, Simon

来源

JOURNAL OF HOUSING AND THE BUILT ENVIRONMENT,Vol.36,Issue3,P.

语言

英文

关键字

作者单位

摘要

We study if and how the structure of EU housing markets, particularly the role of structural breaks and the institutional characteristics of national residential mortgage markets across the EU countries affects the EU housing prices before the financial crisis of 2008. We document three main features: first, the institutional characteristics of residential mortgage markets differ markedly across EU countries; second, and according to a wide range of indicators, the increase of housing prices is significantly stronger in those countries where the credit policy characteristics are less conservative; third, for the majority of EU countries, we find evidence of structural breaks in EU housing markets that often coincide with a housing market policy change.