Notwithstanding political squalls blowing louder than ever, the global economy is forging ahead. The acceleration in economic growth and inflation are bringing us closer to an environment that we are accustomed to seeing as normal. Nevertheless, the spreading of protectionist…
Consumer price index increased by 0.1% in 2016. Higher excise taxes on alcohol, tobacco, and motor fuels contributed positively, while cheaper energy had the biggest negative impact on prices. The prices of alcoholic beverages and tobacco were around 6% higher…
The housing affordability index (HAI) increased to 162.5 in Riga, but decreased to 145.9 in Tallinn and to 124.3 in Vilnius In Tallinn, affordability decreased by 0.8 point in the third quarter this year compared with the same period in…
Half-hearted reforms will not raise competitiveness and boost growth • Mind the risks to long-term growth • Exports hold the key to future growth in the Baltics • The services sector – stronger, smarter and more diversified Mind the risks to…
• Wage growth remained rapid in the 3rd quarter at 7%, over the year. • We expect average gross wage to slow to around 5% in 2017. In the 3rd quarter of 2016, the average monthly gross wage was 1,119…
Economic growth in Estonia continued to be weak in the 3Q. According to the flash estimate, Estonian economy grew 1.1% yoy and 0.2% qoq (seasonally and calendar adjusted). The GDP has increased 1.1% yoy during the first three quarters. We…
Apartment prices in Vilnius increased by 0.5% to 1,399 EUR/sqm in September 2016. During a year apartment prices in Vilnius increased by 6.0% and since the last lowest price level in May 2010, apartment prices are higher by 21.2% (by 245 EUR/sqm).…
SEB’s analysis shows that a resident of Tallinn with an average income needs about three years to set aside enough money for the down payment to buy a standard apartment in a dormitory district or new development. In Q2 2016,…
The 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…
The events in the economy and politics over the last half-year have been unexpected. The UK referendum, the state of the US presidential election, the increase in popularity of extremist parties in Europe, and the diverging from democracy in some…
Wage growth remained rapid in the second quarter at around 8%, over the year. We expect average gross wage to rise by around 5% in 2017. In the 2nd quarter of 2016, the average monthly gross wage was 1,163 euros…
The number of inactive decreased by 19,000 people, over the year, in the second quarter of this year. In addition to tight labour market, inactivity declined due to state reforms – an increase in the retirement age and the rearrangement…
Apartment prices in Vilnius increased by 0.8% to 1,376 EUR/sqm in June 2016. During a year apartment prices in Vilnius increased by 6.0% and since the last lowest price level in May 2010, apartment prices are higher by 19.2% (by…
The surge in supply has almost halted price growth Construction sector investments low Real estate prices relative to income stay below 12-year average Price – it is all about demand and supply In the first quarter of 2016, price growth…
Cheaper energy and food behind the decline in prices Price growth is expected to be flat in 2016 In June 2016, consumer prices decreased by 0.4%, year on year, in Estonia. Goods were 0.6% and services 0.1% cheaper compared to…
