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Paper eres2001_215:
The impact of the Economic and Monetary Union on the Housing market

id eres2001_215
authors Lopes, Jorge
year 2001
title The impact of the Economic and Monetary Union on the Housing market
source 8th European Real Estate Society Conference (26-29 June 2001) Alicante, Spain
summary The housing market in Portugal has notched up a remarkable growth since the early 1990s, in line with the development pattern of the overall construction market. The new residential housing sub-segment has been the one that experienced the highest growth in this period. One of the catalysts of the impressive outcome in this segment of the construction market was the transformation operated in the financial system, which intended to be consistent with the process of European convergence. However, in the last two years the pattern has shown signs of flagging owing to excess supply, particularly in the owner-occupied housing tenure. This paper discusses the impact of the Economic and Monetary Union- EMU on the housing market. Secondly, it analyses the development of the housing market from the early 1990s. Finally it suggests ways to tackle the unfavourable conditions pertinent to the housing market, namely the new residential housing sub-segment. The paper argues that in order to face the demands of the Economic and Monetary Union, policy changes pertaining to the housing market and related economic sectors are needed.
keywords Construction market, EMU, Housing market, Portugal
series ERES:conference
content file.pdf (60,358 bytes)
discussion No discussions. Post discussion ...
session Housing Market equilibrium
last changed 2009/07/10 18:07
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