Debt OP: Three times more investment housing loans are being applied for than a decade ago

Women are increasingly applying for larger loans for investment housing.

Mortgages Demand has been growing rapidly in recent years, says the OP Bank Group. Approximately 14,600 investment housing loans were applied for from cooperative banks in January – October this year, which is approximately three times more than in the corresponding period in 2012.

The size of investment housing loans has also increased in ten years. Now, an average loan of EUR 104,000 is being applied for for an investment apartment, compared to EUR 80,000 at the beginning of the 2010s.

The majority of applicants for investment mortgages are still men, but the gender gap is narrowing year by year, according to the OP Bank Group. In Helsinki, the share of men among loan applicants has fallen to 56 per cent, elsewhere in Finland it is 62 per cent.

“It is gratifying to see that housing investment is becoming more equal,” says OP’s Director of Housing Finance and Housing Services. Kaisu Christie in the bulletin.

Before, men applied for clearly larger loans for investment housing than women, but this year, for the first time, there is no difference.

The average age of those applying for an investment mortgage has also fallen in a decade. In the past, men applied for a loan at an average age of 47 and women at 49, now the average age of men applying for a loan is 43 and that of women is 44.

The share of single people applying for an investment home loan has grown significantly and now stands at 64 per cent.

According to the Bank of Finland, eight per cent of Finland’s housing loan stock, or EUR 8.5 billion, was investment housing loans at the end of September. In recent months, the stock of investment housing loans has grown at almost twice the rate of the stock of owner-occupied housing loans.

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