IntroductionThe Austrian residential mortgage market has grown consistently in recent years despite relatively poor economic performance and fluctuating property prices.
What are the current issues facing this market? How are housing policies affecting its performance? Who are the biggest lenders? What will be the size of the sector in the next five years? This report provides the answers.ScopeCovers the residential mortgage marketProvides market sizing data in terms of gross advances and balances outstandingProvides competitor market share for the top five players in terms of balances outstanding; a short profile of the top players is also providedLooks at housing policies and issues in the marketHighlightsA boost to the housing market should be given as a result of the expansion of the EU eastwards, which is expected to be of major benefit to general economic activity and housing demand, given Austria's proximity to these new accession countries.Housebuilding subsidies are offered to most types of housing provider: non-profit, for-profit developers and private persons in the family home sector.
Such subsidies only contribute to part of the cost of a development.
Therefore, broad market conditions affect the rate of subsidy take-up and hence, the number of new dwellings built.Remortgaging in the Austrian market is not very common and makes up a small proportion of the residential mortgage market.
This is because of the high exit penalties imposed by lenders.
In addition, culturally customers remain loyal to their bank and are not as savvy as in some other European countries such as the UK.Reasons to PurchaseLearn how the Austrian residential mortgage market has developed over the last five yearsUnderstand the recent developments in the market in terms of regulation, competition and product innovationsFind out Datamonitor's opinion on the future performance of the Austrian residential mortgage market over the next five years