Pregledni rad
The influence of subsidized housing loans on prices on the real estate market in the Republic of Croatia
Sandra Klarić
; Veleučilište Baltazar, Zaprešić
Petra Popek Biškupec
orcid.org/0000-0003-4783-5251
; Veleučilište Baltazar, Zaprešić
Marin Pajić
; Veleučilište Baltazar, Zaprešić
Sažetak
The real estate market in the Republic of Croatia is characterized by high demand and rising real estate prices. The main
question has arisen from questioning the justification of subsidized loans. Subsidizing housing loans were presented as
a state aid measure aimed at providing housing for citizens, which will have a demographic effect and encourage urban
regeneration. Due to high real estate prices, the question of the real effect of subsidies arises.
The goal of this paper is to analyse the connection between subsidized housing loans and the phenomenon of accelerated
growth of real estate prices. The empirical part of the paper includes analysis of real estate prices before and after the
subsidy program and analysis of correlations between banks' lending activities and real estate prices.
The results of the analysis show an increase in banks' lending activity and an increase in the number of sale transactions
and increase of real estate prices since the beginning of the announcement of the housing loan subsidy program. The
growth trend of these variables is preceded by the growth of demand in the real estate market. The data show a high
correlation between real estate prices and lending activities of banks.
The paper contributes to the decision makers to improve future policy strategies and using state aid measures.
Ključne riječi
credit activity, real estate market, subsidized loans
Hrčak ID:
306308
URI
Datum izdavanja:
20.7.2023.
Posjeta: 152 *