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Monday 27.02.2017 | Name days: Līva, Līvija, Andra
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Latvia has the lowest proportion of private homes in Baltic States

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Baltic news, News from Latvia, BNN.LV, BNN-NEWS.COM, BNN-NEWS.RUCompared with the average index across the European Union, 66% of Latvia’s residents live in apartment homes. The average index for the EU is 39%. According to results of a survey by DNB Bank, every third resident would like to move from an apartment to a private home.

30.2% of respondents who currently live in apartments dream of building their own house. 8.3% have already begun considering their options. 9.3% of respondents admitted having begun the construction of their private home. 43.1% of respondents have no plans to build a private home in the near future.

‘If we compare the number of families that live in private homes in Latvia with the situation in Estonia and Lithuania, we will see hat Latvia has the lowest index among Baltic States. Although the proportion in neighbouring states is also small, it is larger than that of Latvia. It should be said that last year’s most popular housing options for the procurement of which mortgage loans were used in Latvia were apartments in modern buildings. This statistical data is reasonable, considering the large proportion of such housing options on the real estate market. We noticed an increase in the interest of our clients towards buying a private home last year,’ – reveals DNB Bank Private Lending Manger Kaspars Anckalnins.

When asked about the advantages of building a private house as opposed to buying one that is already finished, 71% of respondents mentioned being able to adapt the project to their needs as construction progresses. 54.2% of respondents like the idea of becoming involved in the construction process and selecting construction materials personally (57.3%). 47.9% mentioned the ability to closely follow the construction process as one of the main advantages. 35.4% of respondents believe building a house is more financially beneficial than buying a ready one. 26% of respondents mentioned wanting to be the first owner to enter the premises of a newly-finished house.

Ref: 102.109.109.7852


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