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The Residential Real Estate Market in the Supervisory Policy of the European Union

Author

Listed:
  • Ewa Kucharska–Stasiak

    (Uniwersytet Łódzki)

Abstract

In the face of the global crisis, the EU has taken steps to strengthen supervision and improve coordination of national economic policies by introducing a supervisory mechanism under the name of the Macroeconomic Imbalance Procedure (MIP). Its aim is to give an early warning of emerging economic disorders including the residential real estate market. This market has been included due to the awareness that the uneven development of this market may lead to disturbances in economy. Very dynamic changes in residential real estate prices and the accompanying strong level of lending are associated with the risk of a violent and dangerous in consequences correction. This paper has a research character. Nevertheless, it makes it possible to assess – by indicating economies in which the real estate market exhibits, or may start to exhibit signals of disturbed balance – the existing method of monitoring the real estate market in the MIP.

Suggested Citation

  • Ewa Kucharska–Stasiak, 2016. "The Residential Real Estate Market in the Supervisory Policy of the European Union," World of Real Estate Journal (Swiat Nieruchomosci), Fundacja Uniwersytetu Ekonomicznego w Krakowie, issue 97, pages 17-22, September.
    • Handle: RePEc:kra:journl:y:2016:i:97:p:17-22
    DOI: 10.14659/worej.2016.97.03
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    More about this item

    Keywords

    real estate market; Macroeconomic Imbalance Procedure; market imbalance;
    All these keywords.

    JEL classification:

    • E02 - Macroeconomics and Monetary Economics - - General - - - Institutions and the Macroeconomy
    • F15 - International Economics - - Trade - - - Economic Integration
    • R29 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Household Analysis - - - Other

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