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Latvian housing prices up in 2013, flat in Lithuania

SEB’s most recent Baltic Housing Price Indicator from December 2012 shows that Latvians see rising prices in 2013 whereas Lithuanians expect a flat development.

Around 39 per cent of respondents in a survey in Latvia said they expect rising prices versus 27 per cent of respondents in Lithuania. Only 13 per cent of respondents in Latvia expect lower prices compared to 22 per cent in Lithuania. SEB’s Indicator, calculated as the share of people expecting a rise minus the share of people expecting a decline, was 27 for Latvia and 5 for Lithuania.

Compared to the previous periods, the number of respondents in Latvia who expect rising prices is close to the top result to date (41 per cent in November 2012). Optimism in Lithuania however has dropped sharply from 39 per cent of respondents saying they expect rising prices in the spring last year.

“The survey continues to show that the respondents from Latvia are more positive, which may be explained by a more rapid economic growth and improved personal financial matters,” says Edmunds Rudzitis, personal finance expert at SEB in Latvia.

The survey, done mostly in December 2012, was commissioned by SEB and included responses from around 1,000 people in each of Latvia and Lithuania.