In 2014 compared with 2013, greater housing loan demand was recorded almost each month, with the highest growth observed in February, April and June.
According to Virginijus Doveika, Head of Retail Banking Division and SEB Vice President, market activity increased before the adoption of the euro and because it was feared that real estate prices might change. Besides this there also were other aspects which determined the activity in the housing loan market, for example, growing income of some people and the increase of housing supply, especially in Vilnius.
According to the statistics of SEB bank, the average housing loan repayment period has not changed, people mostly borrowed for 22 years. Meanwhile, in 2014 compared with 2013, the average housing loan amount increased by 5% and reached EUR 39,000.
The bank says Lithuanians are still mostly interested in economy housing. Loans are taken mostly by young people and families. 77% of housing loans issued by SEB bank last year were taken by people aged between 21 and 40.
