After the boom years of soaring house prices, the European housing markets appear to have stabilised and are generally sheltered from the fallout of the US subprime mortgage crisis, analysts said.
Far from the alarmist warnings of a looming crash when the industrialised world's house prices kept climbing, economists now see the housing market headed for a soft landing with only some collateral damage in the conditions for credit. In Europe, "for the moment, there are no negative effects on the housing market from the subprime (mortgage) crisis" in the United States, said Michel Varaldo.