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Tuesday 16.10.2018 | Name days: Daiga, Dinija
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SEB issued funding for housing renovations grows by 155%

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Demand for funding of renovations of multiple apartment buildings increased rapidly in 2012. The largest activity is noted in Kurzeme and Vidzeme.

Compared with 2011, the volume of allocated funding has increased by 155%. A record high amount of renovation intended credits were issued in 2012 – 19.4 million LVL for heating of 172 multi apartment buildings, as reported by SEB Banka.

Both the number of renovated buildings and the average loan amount increased in 2012. 172 buildings were renovated in 2012 with SEB Banka financing, which is 115% more than there were in 2012 (80). The total renovation loan amount increased by 155% in 2012 – up to 19.4 million LVL (7.6 in 2011). The average renovation credit amount has increased from 95 thousand to 117 thousand LVL.

“During the last couple of years, residents had an opportunity to see for certain the benefits of renovated homes – starting from looks and ending with long-term economic benefits. By now, house managers and residents have understood the advantages given by heating and the opportunity to receive 50% of co-funding from the EU. In total, SEB Banka funding has helped renovate more than 300 multi apartment buildings in the last four years,” – comments the bank’s Board Member Ieva Tetere.

As it is known, it is now possible to attract financing from EU funds for renovation. 50% or 60% co-funding for the increase of a house’s energy efficiency can be applied for from EU structure funds.

BNN previously reported that the Cabinet of Ministers approved the allocation of additional funding for heating system maintenance at the amount of 15 million LVL on September 18.

The words “energy efficiency” is no longer a strange word for most of society. We can increase our welfare by not only earning money, but also by not spending it. Energy efficiency is our opportunity to spend less and save money. Additional funding for renovations will allow us to bring warmth to hundreds of multi apartment building in all of Latvia, decreasing households’ general expenses on heating, – says Economy Minister Daniels Pavluts.

Ref: 102.109.109.5917


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