The volume of new mortgage loans in Latvia increased by 11.5% in 2015.
The total sum of mortgage funds amounted to € 321.2 million, compared to € 288.2 in 2014.
Number of mortgage loans amounted to 8541. 21% of these loans have been issued according to the program of support for young families with children.
The total loan portfolio of Latvian banks currently stands at € 14.68 billion.
According to market experts, the development of mortgage lending contributes to the economic development of the country, salaries growth, low interest rates and adequate property prices.
At the same time limiting factors are low economic activity and low solvency in the regions, not very predictable legal environment in Latvia, as well as the limitations of programs of state support.
Based on materials of baltic-course.com
Photocredit Depositphotos.com