Latvian financial habits and mortgage trends revealed by SEB

Recent data from SEB Bank highlights significant financial behaviors and mortgage trends within the Baltic region, particularly in Latvia. An SEB survey reveals that 35% of Latvian residents have avoided checking their bank balances due to anxiety regarding their financial situation. This avoidance is most prevalent among young people aged 18–29, where 52% have avoided checking their balance at least once and 11% do so regularly. In contrast, only 23% of seniors aged 60–74 reported similar avoidance.

Regarding housing, SEB data shows that 76% of mortgage borrowers in the Baltics are under the age of 42. The most active demographic for home loans is between 26 and 42 years old, a group that also secures the largest loan amounts, averaging approximately 155,000 euros. In Latvia, the typical borrower is a 33-year-old private sector employee earning an average of 2,250 euros per month, taking out loans averaging 94,000 euros over a 21-year term. Real estate financing in Latvia remains heavily concentrated in the capital, with 62% of SEB-financed home purchases located in Riga.