Immobilienpreise, Hypothekarkredite und Wohnbauinvestitionen

This study investigates the extent to which transformation of mortgage credit into real estate investment is influenced by various factors such as property prices and mortgage interest rates. Our analysis also attempts to clarify if mortgage credit might have been a contributing factor to the rising property prices in Switzerland. Our results show that despite the increased liquidity in Swiss banks following the financial crisis and low mortgage interest rates, the contribution of banks to the formation of a real estate bubble has been rather modest.