Is Emerging Europe Experiencing A Housing Bubble
Although recent price and lending growth has been rapid in many Emerging Europe countries, housing prices in much of the region remain below the highs seen before the 2008-09 global financial crisis, while rising incomes have contributed to improved affordability. Although few Emerging Europe countries face the risk of a real-estate bubble in the short term, longer-term risks could mount if the recent trend continues, meaning that further efforts to reign in lending and support faster housing construction may be warranted.