The Real Estate and Credit Bubble in Spain; Implications for Poland

Zbigniew Korzeb


The aim of this article is to establish whether the symptoms of an emerging housing bubble can be observed on the Polish market. The concept of this study is based on a comparison between economic, financial and demographic conditions at the time of the mortgage crisis in Spain and the current situation on the housing market and on the market of housing loans granted to households in Poland. An analysis of two economic indicators, (i) housing loans to households-to-GDP expressed in growth rates and (ii) rates of house price growth, does not indicate that a speculative bubble occurs in Poland now. This, however, does not mean that the conclusions drawn from the Spanish crisis cannot and should not have a bearing on the Polish market, especially in terms of potential consequences the crisis may have for the banking sector
Author Zbigniew Korzeb (FEM / DFA)
Zbigniew Korzeb,,
- Department of Finance and Accounting
Journal seriesZeszyty Naukowe Szkoły Głównej Gospodarstwa Wiejskiego w Warszawie Problemy Rolnictwa Światowego, ISSN 2081-6960, (0 pkt)
Issue year2019
Publication size in sheets0.55
Keywords in Englishmortgage crisis, banking sector, commercial banks, financial stability, Spain, Poland
Internal identifierROC 19-20
Languageen angielski
LicenseJournal (articles only); published final; Other open licence; with publication
Score (nominal)5
Score sourcejournalList
ScoreMinisterial score = 5.0, 12-02-2020, ArticleFromJournal
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