In the third quarter, compared with the same quarter last year, housing affordability increased substantially in Riga; in Vilnius, the increase was less pronounced, while in Tallinn it, on the contrary, decreased.
A decrease in interest rates supported affordability in all the Baltics last quarter. In Tallinn, a dip in affordability was the result of rapid price growth exceeding wage growth. In Riga, strong affordability gains were driven by wage growth significantly surpassing the average price increase. Meanwhile, in Vilnius, lower interest rates were enough to ensure stronger affordability even though prices grew faster than incomes.
Low interest rates are expected to support affordability in the coming quarters. Apartment price growth is likely to outpace wage growth in the near future, reducing affordability in Tallinn and Vilnius. Future affordability is unclear in Riga – wage growth will somewhat decelerate, albeit remain strong, while rising construction costs, coupled with elevated demand, will continue to pose upward pressure on the average price.
Tõnu Toompark on kinnisvaraanalüütik, -konsultant ja koolitaja, kelle tegevusvaldkonnad on valdavalt: * elamispindade turg, turutrendid, tehingud, hinnad ning turuülevaated; * uute korterite arendamise mahud, müük, hinnad ja analüüsid; * üürituru pakkumine, tehingud ja hinnad ning üüriinvesteeringud, tasuvusarvutused; * elamispindade kättesaadavus numbrilisena; * koolitused eeltoodud valdkondades. Koolituste valdkonnaga on Tõnu Toompark seotud üle 25 aasta. Ta on avaldanud sadu ja sadu kinnisvarateemalisi analüüse, artikleid ja kommentaare. Tõnu Toompark on läbi viinud koolitusi nii kesk-, kutse-, kõrg-, kui ülikoolides, lisaks mitmetes koolitusettevõtetes. Näiteks Kinnisvarakool, Tallinna Tehnikaülikool, Eesti Ettevõtluskõrgkool Mainor, Estonian Business School, Tartu Ülikool, Tallinna Majanduskool.
