Accommodation in Latvia has become more available, as claims the study of a large bank of Sweden — Swedbank, that published the Baltic affordability index. Latvia received the mark of 159 points, exceeding the previous year's level, reports portal ee24.com with reference to the Latvian media.
Latvia enjoys the increase in income, as well as low rates on loans. It is interesting that the accumulation of funds for the down payment on a mortgage loan takes two years or 24.8 months for an average family living in Riga,.
For comparison, the families living in Tallinn, spend 25.4 months, and in Vilnius - 34.2 months. According to Swedbank, Riga borrowers pay a monthly mortgage of an average €163.
An index of 159 points indicates that the Riga households earn 59% more than required for the payment of the mortgage, despite the fact that it requires to spend no more than 30% of total family income.