Average size of housing loans in Estonia

Average size of housing loans in Estonia

The average size of housing loans in Estonia in the fourth quarter of 2011 amounted to 45 100 euros, according to the Estonian branch of the Swedish bank Swedbank. According to statistic of the bank the average property price in comparison with the boom years (2005-2007) is markedly decreased.

Despite the fact that the granting of housing loans has increased in 2011 by 25%, the number of sales in the real estate market has grown by only 15%. This is explained by the fact that in real estate transactions involved a high proportion of equity buyers. According to experts, this trend will continue this year.

According to the head of Swedbank Ero Wijk in 2011 there were 41 885 transactions, 55% of which was sale of residential property, which is 3.5% of housing all over Estonia.

"It should be noted that the number of housing projects of medium and low price level has decreased. As a result, people who are interested in buying a home, sometimes just can not find the object of interest to them at an affordable price, "said Ero Wijk.

Source: http://www.regnum.ru/news/1509314.html