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Parliamentary questions
10 September 2018
E-003792/2018
Answer given by Mr Moscovici on behalf of the European Commission

In the context of the European semester, including the Macroeconomic Imbalance Procedure, the Commission is regularly monitoring and analysing the macro relevant developments including price developments and the building up of vulnerabilities in housing markets.

Eurostat is collecting and publishing quarterly and annual house price statistics. Recent assessments can be found in the Alert Mechanism Report 2018(1) and more in depth in the Country Reports published on 7 March 2018(2).

In the context of state aid the Commission controls measures granted by Member States which distort competition by improving the position of the recipient undertaking compared to its competitors.

In addition to a possible distortion of competition, for a measure to constitute state aid it must also be demonstrated that it confers an economic advantage, that the advantage is granted through State resources and is imputable to the State, that the measure is selective and that it affects trade between Member States.

Based on the above, housing speculation, as such, do not seem to qualify as state aid measures. In addition, the Commission has no indication of a possible breach of Articles 101 or 102 of the Treaty on the Functioning of the EU in those fields that would require further investigation.

(1)https://ec.europa.eu/info/publications/2018-european-semester-alert-mechanism-report_en
(2)https://ec.europa.eu/info/publications/2018-european-semester-country-reports_en

Last updated: 11 September 2018Legal notice