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Wednesday, 27.05.2026, 18:37
New home affordability improves in Vilnius, Riga in 2015
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In Tallinn, prices for newly built homes grew at a faster pace than average wages, which made such homes less affordable for the residents of the Estonian capital.
In 2015, the newly-built floor space a Vilniusite with average income can afford last year rose by 0.4 square meters to 29.6 square meters and was slightly larger than the respective floor space in Riga, at 27.9 square meters (up by 3.3 sqm y/y).
“Last year, average wages rose in all three Baltic countries whereas changes in prices for new homes varied. In Tallinn, prices for newly-built homes grew at a faster pace than real wages whereas in Vilnius, prices for new homes grew at a slower pace. In Riga, prices for newly-built homes even showed a decline whereas average wages increased,” Julita Varanauskiene, a family finance expert at SEB Bankas, said in a press release.
Even so, the residents of Tallinn can still afford the largest newly-built floor space – of 35.7 square meters (down by 0.9 sqm y/y).
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