Nordic countries are vulnerable to housing market risks aggravated by the coronavirus pandemic
Ahoniemi, Katja; Putkuri, Hanna (20.05.2020)
JulkaisusarjaBank of Finland. Bulletin
JulkaisijaBank of Finland
Julkaisun pysyvä osoite onhttps://urn.fi/URN:NBN:fi:bof-202005222147
The coronavirus (COVID-19) pandemic is dampening the Nordic housing market in many ways. The economic outlook and consumer confidence in the economy have deteriorated precipitously. The restrictions imposed under the state of emergency are affecting the activities and financial position of banks, real estate agents and customers. Home sales have decreased and sales times are lengthening. The dependence of banks on wholesale funding renders them vulnerable to tensions in the international financial markets.