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Wednesday, 24.04.2024, 01:42
Lithuanian banks see pick-up in demand for home loans
BC, Vilnius, 09.08.2016.
Print version
Print versionRising incomes, low interest rates and improving expectations encourage people to take home loans, although Lithuanians still tend to use their own money to buy properties, according the information fro the Delfi news website LETA/BNS reported on Tuesday.
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Tomas Garbaravicius, a member of the central bank's board, says that with interest rates staying low, some people see the purchase of residential property as a good investment and buy houses or apartments to rent out.
"All the more so because the net rental yield for apartments in major cities currently ranges between 4.5-5.4%," he said.
According to figures from the Lithuanian Banks' Association, Swedbank held the biggest portfolio of household loans, at around 2.15 bln euros, in the first quarter of 2016, followed closely with SEB with 2.13 bln euros.
DNB Bankas was in third position with 1.47 bln euros, followed with Nordea with 0.87 bln euros.
All four banks increased their portfolios compared with the same period in 2015.
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