Financial Services, Latvia, Loan, Real Estate

International Internet Magazine. Baltic States news & analytics Friday, 20.10.2017, 17:01

EUR 230 mln issued in new housing loans in Latvia in H1

BC, Riga, 05.10.2017.Print version
In the first half of 2017, banks in Latvia had issued new housing loans totaling EUR 230 million, Sanda Liepina, the board chairwoman of the Latvian Association of Commercial Banks, said on the public Latvian Radio, cites LETA.

The total amount of personal bank loans granted in the first half of 2017 is EUR 340 million, with housing loans prevailing at EUR 230 million.

 

Liepina said that there was a positive trend in housing lending but no reason to worry about the market overheating.

 

She praised the government's program for support to first-time home buyers. Under this program, 6,200 families with a total of 9,000 children had received the support and were able to come up with the first downpayment on a housing loan in about a year. Without the government program, it would have taken them four years or more.

 

The Latvian Association of Commercial Banks will be presenting its latest lending overview on Thursday afternoon.






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