Press release


19 April 2019

2018 ends as it began:

mortgage and housing market momentum continues at a gentle pace


Brussels, 19 April 2019 – For immediate release


The European Mortgage Federation (EMF) is delighted to announce the publication of its Quarterly Review of European Mortgage Markets for the fourth quarter (Q4) of 2018.

Produced in cooperation with the Federation’s national experts, the Quarterly Review provides the latest short-term developments in mortgage and housing markets across the EU.

The publication highlights 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;
  • Nominal house price indices, and
  • Regulation & Government intervention

Key highlights for Q4 2018 Quarterly Review

A new structure:

  • Poland, Czech Republic, Romania and Hungary, have been introduced as new countries in the Bank Lending Survey in order to provide wider coverage on lending conditions for property purchase purposes.

Market developments:

The evolution of the market in the fourth quarter of 2018 was characterised by:

  • An overall trend of continued stability throughout European housing markets.
  • A modest, positive rise in the volume of mortgages outstanding as well as in gross mortgage lending volumes, which grew by 4.6% across Europe year-on-year.
  • The introduction of new regulation in Spain focussing on real estate contracts transposing the EU Mortgage Credit Directive, and in the Czech Republic and Romania focussing on lending conditions and borrower repayment capacity. A new bond purchase programme was also introduced in Hungary.


 The full Quarterly Review – Q4 2018 and the archive of previous editions (back to Q3 1998) are available on the EMF website.