During the year, the average home loan amount increased from € 75,000 to € 85,000, according to Light information collected by the bank.
Despite the increase in the average amount of the real estate loan of ten thousand euros, the market is still active and there are no drops in new housing transactions.
As real estate agencies show Ample information gathered, the market became even more active after the summer and the number of transactions in September, compared to August, increased by four percent. On the other hand, second Light data, the number of new mortgage applications has declined slightly in recent weeks.
Prices in new projects increased by about 20% to 30% during the year, in other apartment segments the price increase was more moderate – about 10%.
This is related to rising construction costs and limited supply of new projects, they say Light in the bank, adding that the offer of serial apartments is much wider, so the increase in prices for these apartments has not been so rapid.
Furthermore, according to the bank’s data, it can be concluded that the demand for low-energy housing is growing.
As indicated Light Kaspars Lukačovs, head of personal loans in the Baltic states, residents are aware that an energy efficient building is beneficial in the long term, as it will significantly affect future payments.
It also points out that a home with less energy losses will also be more attractive on the market in the future.
“With the increase in payments for electricity and heating, the offer of real estate on the market also changes: large serial apartments are for sale for which high bills will be on sale, as well as large private houses,” says Lukačkovs, adding that at the same time there is a demand for living spaces with modern solutions and an orderly environment.
“Unfortunately, the number of new apartment projects has been insufficient for a long time and does not meet the strong demand,” explains the expert.
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