Press release

EMF Publishes Quarterly Review – Q4 2017

28 May 2018

Notwithstanding Geopolitical International & Domestic Tensions,
Housing and Mortgage Markets in Europe continued their resilient path at the end of 2017


The European Mortgage Federation (EMF) has today published its Quarterly Review of European Mortgage Markets for the fourth quarter (Q4) of 2017.

Produced in cooperation with the Federation’s national experts, the Quarterly Review presents the latest short-term developments in mortgage and housing markets across the EU. The publication provides expert analytical commentary together with data tables and charts on the following key indicators:

  • Mortgage interest rates;
  • Total outstanding residential mortgage lending;
  • Gross and net residential mortgage lending; and
  • Nominal house price indices.

For the first time, the Quarterly Review also contains more detailed information on regulation and government intervention across the EU Member States, as relevant, to respond to market developments.

Overview of Q4 2017:

“It is interesting to note that, at the end of 2017, the economic momentum in the EU continued with positive GDP growth, falling unemployment rates and expanding private consumption. In an environment of improving economic fundamentals, coupled with generally very low interest rates, the overall mortgage market in the EU is expanding, notwithstanding the overall challenging geopolitical international and domestic tensions. Gross lending increased by 3% in 2017 and outstanding mortgages by 2% in 2017, and most countries saw house prices increase year on year, with double digit increases in some cases. These developments have been coupled with increasing actions from public authorities in their domestic mortgage markets to, on the one hand, support certain categories of borrowers, such as first time buyers, and, on the other, take heat out of markets through macroprudential intervention against a backdrop of rising house prices.”

Luca Bertalot, EMF-ECBC Secretary General

The full Quarterly Review – Q4 2017 and the archive of previous editions (back to Q3 1998) are available on the EMF website here.