# Estonian housing market: affordability problem and regulatory framework (May 2013)

* **Estonian housing market: affordability problem and regulatory framework**
* By  Angelika Kallakmaa‐Kapsta and Ene Kolbre. Published in [International Journal of Housing Markets and Analysis](https://www.emerald.com/insight/publication/issn/1753-8270) on 31 May 2013
* Full version of this paper is behind a paywall: <https://doi.org/10.1108/IJHMA-12-2011-0058>
* **Abstract**:&#x20;
  * The study was trying to find out **how to evaluate the affordability of housing in the Estonian market** and **to assess the regulatory framework decisions' impact on the housing market** in Estonia.
  * Results: "Calculations show that there is an affordability problem, and **political decisions have helped to make housing loans affordable for households, but at the same time the high debt burden has weakened households' financial position."**
  * Moreover, the study brings up an interesting element linked to the methodology of research and its limitations - it would have been possible to research the market **using the databases of credit institutions,** but the given data is under the protection of banking confidentiality.
* **Keywords**: Estonia, housing market, affordability, regulation, financialisation, real estate, debt burden, right to housing, rental housing, housing loans