Residents of Latvia change housing much less frequently than residents of Estonia

The Luminor study found that 55% of Estonian residents, 44% of Latvian residents and 39% of Lithuanian residents have changed their place of residence four or more times in their lives. In Estonia, 4% of respondents live in one place all their lives, and in Latvia and Lithuania 8% have never moved from one house to another.

“One of the factors that makes people in Estonia move more often is the difference in income compared to other Baltic countries. A survey conducted among Estonian residents showed that the higher the income, the greater the likelihood of moving. As is known, Estonia has been ahead of the curve in recent decades Latvia and Lithuania in terms of net wages,” says Tanel Rebane, head of the retail banking department at Luminor Baltic.

The study found that in Estonia, 40% of people earning a net salary of 551-700 euros changed housing more than four times in their lifetime, and 64% of people earning 1,500 euros or more changed housing four or more times.

Another reason for housing change is cited by Estonian residents as the higher volume of new housing construction in the country compared to Latvia and Lithuania. “Construction prices are the same in each of the Baltic countries, but in Estonia, home buyers are most receptive to high prices, so Baltic developers are most willing to work in Estonia.

Money from foreign investors is also coming into the Estonian real estate market. As a result, Estonians have more options when it comes to choosing new housing, which means that people are changing their place of residence more often,” he says.

Among Estonian residents, young people in the 25-34 age group most often change housing, and 59% of them have already lived in four or more places. Basically, the number of people in Estonia who have changed their place of residence remains the same across different age groups, with the majority of people in each age group moving four or more times. It can also be noted that residents of Tallinn, the most populous city, change their housing somewhat more often than residents of other regions of Estonia.