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

  • 2018-08-04
  • LETA/TBT Staff

VILNIUS - Lithuania has the highest proportion of people who own the home they live in among the three Baltic countries, at 80 percent, compared with 71 percent in Latvia and 62 percent 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 percent last year, compared with 6 percent in 2007," he said.

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

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