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  Loans maturing over the next three years represent a significant risk for the real estate market, potentially acting as a "liquidity time bomb."
 
  
  
  The ECB has been studying the risks that the CRE downturn is posing to banks after a downturn triggered by rising rates.
       
      
      
      
      
      
      
      
      
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  Real estate contributes about 20% to 35% to the country's total FDI every year.
 
   
   
   
   
   
   
   
       
   
   
   
    
   
    
   
    
   
    
   
    
   
    
   
   
       
       
      