Swedbank: The housing affordability index for Baltics

SwedbankThe housing affordability index increased to 159.6 in Tallinn and 171.3 in Riga, but decreased to 128.1 in Vilnius

  • In Tallinn, affordability rose by 5.5 points in the second quarter this year compared with the same period in 2015, due to a rapid rise in net wages and modest apartment price growth.
  • In Riga, the HAI increased by 12.5 points, mainly due to a 6.9% drop in apartment prices.
  • In Vilnius, the HAI declined by 3.9 points because apartment price growth outpaced wage growth.
  • The time needed to save for a down payment decreased by 1 month and 2 weeks in Tallinn, to 27.6 months, and by 2 months and 3 weeks in Riga, to 23.6 months; it increased by 1 month and 1 week, to 37.0 in Vilnius.

Housing affordability index

Housing Affordability Index for Baltics – September 2016

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