The housing affordability index (HAI) increased to 133.2 in Vilnius, 151.8 in Riga, and 150.6 in Tallinn
- In Tallinn, affordability rose marginally by 1.4 points in the second quarter this year compared with the same period in 2014, due to a 33-basis-point decrease in interest rates.
- In Riga, the HAI increased by 10.1 points because wage growth continued outpacing apartment price growth; moreover, interest rates decreased by 16 basis points as well.
- In Vilnius, the HAI rose by 15 points because of a 55-basis – point decrease in interest rates and a 1.4% decrease in apartment prices.
- The time needed to save for a down payment increased over the past year by almost one month in Tallinn, to 29.1 months, but decreased by one month and three weeks in Vilnius, to 35.7 months, and by one month and more than one week in Riga, to 26.3 months.
For more information about this report, please contact Ms. Vaiva Šečkutė, +370 5 258 2156, Vaiva.Seckute@swedbank.lt
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