After more than fifteen years of transition, many countries still experience only sluggish development of market-based housing finance, due to legislative hurdles as well as to low levels of financial affordability, especially on the part of lower and middle income groups. The goal of this study, therefore, is to assist Governments of countries in transition in designing working housing finance markets for their citizens. It is intended to enable decision makers to select appropriate measures for the implementation of different financing schemes. It is designed to show politicians, authorities, the banking community and other interested partners how housing financing policies could be developed and improved, which general housing finance systems could be applied, what experience of some specific solutions has shown and which criteria and information could be used in evaluating, preparing and selecting appropriate policy measures.

The study draws on experience from the most advanced economies of the various financing techniques. Given the heterogeneous experience of these countries, the systems and their application can not simply be copied. Properly adapted to local conditions, however, they are likely to help in laying the ground for new solutions, and thus deserve a closer look from all interested parties.