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Paper eres2009_264:
Global Financial Crisis and its Consequences for Polish Housing Market

id eres2009_264
authors Zelazowski, Konrad
year 2009
title Global Financial Crisis and its Consequences for Polish Housing Market
source 16th Annual European Real Estate Society Conference in Stockholm, Sweden
summary Polish housing market has been developing significantly since 2005. However, recent real estate market crisis and financial collapse in USA and European countries did not remain without an impact on Polish economy. The immediate reaction of Polish banking sector was a tightening of mortgage lending. Financial Supervision Authority recommended to reduce the available LTV to 70% and only for borrowers with high creditability. Reduced availability of mortgage loan resulted in declining demand for residential properties. The latest statistics show that the prices of properties in main Polish cities has decreased by 5-7%. The aim of the paper is to investigate possible consequences of recent financial crisis for Polish real estate market development. Is it a temporary slowdown or a long term collapse?"
series ERES:conference
type normal paper
email kzelazowski@uni.lodz.pl
content file.ppt (806,912 bytes)
discussion No discussions. Post discussion ...
ratings
session Cycles and Crises
last changed 2009/09/16 16:26
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