Analysing the Housing Market Structure in Romania and Turkey Under the Global Financial Crisis Effect

Annales Universitatis Apulensis Series Oeconomica, Vol.12, No.1, pp.416-425, 2010

10 Pages Posted: 6 Feb 2012

See all articles by Ali Hepsen

Ali Hepsen

Istanbul University - Faculty of Business Administration, Department of Finance

Murat Kiyilar

Istanbul University - Faculty of Business Management

Date Written: October 1, 2010

Abstract

Housing is the most important asset in the portfolio of most households. For all households it is an important determinant of quality of life. It is a relatively illiquid investment, with an uncertain capital value, and it is generally highly leveraged, which makes it a potentially important channel of transmission of monetary policy. On the other hand, housing finance is a crucial importance to the macro-economic system as mortgage loans account for a large proportion of bank lending. Indicators related to mortgage market activities and banks’ exposures to real estate lending are also useful indicators for monitoring the health of the banking sector. This article aims to present a comparative analysis of the housing market structure in Romania and Turkey before and after the global financial crisis.

Keywords: Housing Market, Mortgage Loans, Bank Lending, Financial Crisis, Romania, Turkey

JEL Classification: E30, E44, L74, R10, R20, R30

Suggested Citation

Hepsen, Ali and Kiyilar, Murat, Analysing the Housing Market Structure in Romania and Turkey Under the Global Financial Crisis Effect (October 1, 2010). Annales Universitatis Apulensis Series Oeconomica, Vol.12, No.1, pp.416-425, 2010, Available at SSRN: https://ssrn.com/abstract=1999351

Ali Hepsen (Contact Author)

Istanbul University - Faculty of Business Administration, Department of Finance ( email )

Istanbul
Turkey

Murat Kiyilar

Istanbul University - Faculty of Business Management ( email )

Istanbul
Turkey
+902124737070 (Phone)

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