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Álvaro Santos-Rivera

24 May 2018
FINANCIAL STABILITY REVIEW - BOX
Financial Stability Review Issue 1, 2018
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Abstract
Assessing the dynamics of the euro area commercial real estate (CRE) sector during the current cyclical upturn remains important for identifying potential financial stability risks. The downturn in CRE markets played a significant role in the last financial crisis in many countries and contributed to the increase in the non-performing exposures of the banking sector. As part of this assessment, this box analyses the growing importance of listed CRE companies, and a sub-set thereof known as real estate investment trusts (REITs), in the euro area.