The volume of housing loans with KredEx guarantee increased by 25.7%


Last year the banks issued 1,974 housing loans with a KredEx guarantee totalling 115.5 million euros. Whilst the housing loan market has grown 19.43% compared to the same period last year, the volume of loans granted with a KredEx guarantee has increased by 25.72%. The volume of housing loans granted with a KredEx guarantee made up 13.1% (12.4% in 2013) of all housing loans, issued in Estonia.

As at the end of 2014, the portfolio of KredEx housing loan guarantees totalled 34.3 million euros. Over the last year the KredEx guarantee was used by 896 young families in the amount of 7.2 million euros, 1,060 young specialists in the amount of 8.9 million euros and 18 veterans in the amount of 144,720 euros.

In 2014, the average loan amount made with a KredEx guarantee was 58,534 euros. The housing loan guarantee has been used most often for acquiring a home in Tallinn (36.7%), Harjumaa (16.4%) and Tartumaa (7.7%). The guarantee has been used least often in Hiiumaa (0.2%), Valgamaa (0.4%) and Põlvamaa (0.9%).

In the previous year, the housing loan guarantee was mainly used for the purchase of an apartment (79.95%) and a house (17.32%); the remainder was used for renovation or construction of living premises.
Since 2000, when KredEx started to provide guarantees, 16,366 young families, 10,138 young specialists, 22 veterans and 70 tenants living in restituted premises, i.e. altogether more than 26,566 households have improved their living conditions.