March 27, 2019 / 2:24 PM / in a month

Euro zone real estate bubbles may require more action - ECB

Sign of the European central Bank (ECB) is seen ahead of the news conference on the outcome of the Governing Council meeting, outside the ECB headquarters in Frankfurt, Germany, March 7, 2019. REUTERS/Kai Pfaffenbach

FRANKFURT (Reuters) - A robust rise in euro zone real estate prices is contributing to signs of overvaluation, suggesting the need for policy measures in several countries to curb the property market, the European Central Bank said in a macroprudential bulletin on Wednesday.

“The current analysis indicates that residential real estate vulnerabilities relevant to macroprudential policy are present in a number of euro area countries,” the ECB said.

“The continuation of observed trends in residential real estate markets in some countries suggests that further policy actions remain warranted in the near future,” it added.

Reporting by Balazs Koranyi; Editing by Toby Chopra

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