Analytics, Baltic, Banks, Real Estate

International Internet Magazine. Baltic States news & analytics Wednesday, 21.08.2019, 21:53

Lithuanians prefer to own homes, Latvians, Estonians see rise in renter numbers - Swedbank

BC, Vilnius, 03.08.2018.Print version
Lithuania has the highest proportion of people who own the home they live in among the three Baltic countries, at 80%, compared with 71% in Latvia and 62% in Estonia, according to a comparative housing market analysis carried out by Swedbank.

"The Lithuanian population's attitude to housing remains unchanged: most people prefer to live in a dwelling they own. According to EU statistics, only about one in ten Lithuanians live in a rented dwelling. That figure has not changed in the last decade," Tomas Pulikas, head of mortgage lending support at Swedbank Lithuania, said in a press release on Friday.

"Admittedly, Lithuania has seen a noticeable increase in the number of those who live in a dwelling bought with a bank loan. The proportion reached more than 10% last year, compared with 6% in 2007," he said.

Latvia and Estonia have a considerably higher proportion of home-renters, both at 19% That proportion has risen by 5 and 6 percentage points over the past decade, respectively.

Around 10% of both Latvians and Lithuanians live in homes bought with bank financing. In Estonia, the proportion is higher, at 20%.

Search site