EMF Hypostat

Housing lays the foundation for freedom, dignity and opportunity, paving a solid path towards lasting peace and shared prosperity. Housing policies for their part represent a major social lift, with the potential to support each and every citizen in realising their future expectations. Hypostat 2026 brings together the efforts of over 30 contributors, commenting on an annual data series of indicators covering the 27 Member States of the European Union plus additional jurisdictions beyond the EU's borders, including, for the first time, countries from the EMF-ECBC's International Secondary Mortgage Market Association (ISMMA). Besides the country chapters of the EU27 Member States, which make up the bulk of the publication, Hypostat includes specific articles on housing affordability. These chapters offer a comprehensive and reliable source of data on the markets covered and outline developments observed over the past year.

This year's edition centres on housing affordability, a theme that resonates strongly with the current policy agenda in Europe and beyond. The publication is released ahead of the Global Affordable Housing Conference, which the EMF-ECBC is co-organising with the World Bank Group in Brussels this December, bringing renewed attention to the affordability challenges facing housing markets worldwide. At this important juncture, we have taken the opportunity of the 2026 edition to gather valuable insights from renowned housing market and housing finance experts from around the globe in four standalone articles focused on the housing affordability challenge.

The housing and mortgage sectors in Europe are significant in terms of economic impact, and they also play an important strategic role in the broader goals of market integration, transition towards a greener future, and financial inclusion. In Europe, housing is often seen as one of the largest components of overall investment. While the housing and mortgage markets were stabilising in 2025, the EU continues to face longer-term challenges related to affordability, housing supply, and market equity. House prices and mortgage interest rates are increasing across many countries, while housing supply remains limited and the industry continues to face high construction costs.