Central and Eastern European Mortgage Finance
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Studies

The Urban Institute

Institute for Market Economics (IME)

USAID

Included here are studies on mortgage finance, and related housing market issues, in many transition nations. If you would like to request posting a study to the website, please contact CEE@CEEMortgageFinance.org.

SEE Mortgage Market Assessments: Bulgaria, Romania, Croatia, Serbia, and Bosnia

In order to provide background information for the SEE Mortgage Finance Conference: "Developing Secondary Mortgage Markets in Southeast Europe", the Urban Institute carried out assessments of the mortgage markets in Bulgaria, Romania, and Croatia. The assessments were carried out by Sally Merrill and Carol Rabenhorst of UI and Paul Sacks of MNS Advisors. Subsequently, an assessment of the mortgage market in Serbia was carried out by Sally Merrill, Carol Rabenhorst, and Stephen Butler of Jurisconsult. The same authors then addressed the Bosnian mortgage and real estate markets, where they were joined by Norman Flynn of the International Real Property Foundation and Taisa Zecic, IBM, BiH.

The Legal Framework of Mortgage Markets in Southeast Europe: Assessments of the Legal Framework of Primary and Secondary Mortgage Markets in Croatia, Romania, and Bulgaria

The first SEEMFN Working Group meeting in Sofia in May 2003 established a review of the legal infrastructure of primary and secondary mortgage markets in SEE as the highest priority next step. The legal assessment was carried out by Carol Rabenhorst, UI and Stephen Butler, Jurisconsult.

Poland Housing Finance and Housing Policy Papers

The Poland Housing Finance Project prepared numerous reports on a broad range of mortgage finance, housing market, and housing policy issues. The topics include development of mortgage lending and housing finance policy, regulation and supervision of housing finance, rent reform at the national and municipal level, housing allowances, mortgage insurance, links between the housing sector and the macro-economy, housing and tax policies, and the effective demand for housing.

CEE Mortgage Finance and Housing Market Studies

These studies and additional studies of mortgage finance and housing in CEE countries and Russia are posted here. These include:


EBRD Minimum Standards Manual


Armenia


Bosnia

  • Real Estate Finance and the Real Estate Market in Bosnia: Unlocking Capital for Development, Sally Merrill (UI), Carol Rabenhorst (UI), Stephen B. Butler (Jurisconsult), Norman Flynn (International Real Property Foundation), and Taisa Zecic (IBM/FSBAT/BiH) for USAID/Bosnia. (2004)
  • The Real Estate Market in Bosnia-Herzegovina: Current Status and Recommendations for Reform, Carol Rabenhorst (UI) for The Office of the High Representative, Sarajevo, Bosnia-Herzegovina (2000)
  • Report on Preliminary Assessment of Mortgage Finance and Privatized Housing Management in the Federation of Bosnia-Herzegovina, Carol Rabenhorst (UI) for USAID Privatization Office, Sarajevo, Bosnia-Herzegovina (1997)


Bulgaria

  • The Legal Framework of Mortgage Markets in Southeast Europe: Assessments of the Legal Framework of Primary and Secondary Mortgage Markets in Croatia, Romania, and Bulgaria, Carol Rabenhorst (UI) and Stephen B. Butler (Jurisconsult) for USAID (2004)
  • Developing Secondary Mortgage Markets in Southeast Europe: Assessments of the Mortgage Markets in Bulgaria, Croatia, and Romania, Sally Merrill (UI), Carol Rabenhorst (UI) and Paul Sacks (MNS Advisors) for USAID (January 2003)
  • Mortgage Financing in Bulgaria: Developments, Housing Market and General Background, Tzveta Dimitrova (IME), Daniela Vladimirova (DSK Bank), Krassen Stanchev (IME, Editor), Martin Dimitrov (IME), for the USAID Pension Reform Project and CARANA Corp. Round Table on Mortgage Bonds Horizon as Long Term Investment (2000)


Croatia

  • The Legal Framework of Mortgage Markets in Southeast Europe: Assessments of the Legal Framework of Primary and Secondary Mortgage Markets in Croatia, Romania, and Bulgaria, Carol Rabenhorst (UI) and Stephen Butler (Jurisconsult) for USAID (2004)
  • Developing Secondary Mortgage Markets in Southeast Europe: Assessments of the Mortgage Markets in Bulgaria, Croatia, and Romania, Sally Merrill (UI), Carol Rabenhorst (UI) and Paul Sacks (MNS Advisors) for USAID (January 2003)
  • ECRA Housing Project: Financial Sector Analysis, Leslie Matthews Sulenta, The Urban Institute, July 2001.
  • Development Credit Authority Croatia: Permanent Accomodations and Home Improvement Loans in War-Affected Areas of Croatia Financial Viability Analysis Loan Portfolio Guarantee for Mortgage Lending, Sally Merrill (UI) for USAID (2002)


Hungary


Kazakhstan


Poland


Romania

  • The Legal Framework of Mortgage Markets in Southeast Europe: Assessments of the Legal Framework of Primary and Secondary Mortgage Markets in Croatia, Romania, and Bulgaria, Carol Rabenhorst (UI) and Stephen B. Butler (Jurisconsult) for USAID (2004)
  • Developing Secondary Mortgage Markets in Southeast Europe: Assessments of the Mortgage Markets in Bulgaria, Croatia, and Romania, Sally Merrill (UI), Carol Rabenhorst (UI) and Paul Sacks (MNS Advisors) for USAID (January 2003)
  • The Prospects for Housing Finance in Romania, Sally Merrill (UI), Harold Katsura (UI), Carol Rabenhorst (UI), for the USAID East European Regional Housing Sector Assistance Project (1999)


Russia


Serbia


Slovakia


SEE and CEE Regional

If you would like to request posting a study to the website, please contact CEE@CEEMortgageFinance.org.