The volume of housing loans with KredEx guarantee increased by 24%

Last year, 3,350 households purchased or renovated a home with KredEx guarantee In 2017, KredEx-issued housing loan guarantees amounted to EUR 33.7 million, exceeding those of 2016 by 8.3 million. Since the year 2000, KredEx has helped more than 30,300 households improve their living conditions.

Last year, 1,349 young families, 1,722 young specialists, 265 buyers of energy-efficient dwellings, and 17 veterans took advantage of the possibility to purchase a new home or renovate the existing one. Over the year, KreEx’s portfolio of housing loan guarantees increased by more than EUR 16 million.

The total amount of housing loans secured by immovable property issued by banks in 2017 was EUR 1 billion (EUR 959 million in 2016), of which the volume of loans with KredEx guarantee accounted for EUR 267 million. Thus, the volume of housing loans with a KredEx guarantee made up 21% of the volume of housing loans issued in Estonia.

According to Triin Reinsalu, hear of KredEx Housing and Energy Efficiency Division, the developments that had gained momentum in the housing sector in earlier periods continued in 2017. “Last year, our portfolio of housing loan guarantees increased by more than 16 million euros which was a significant growth compared with 2016. It is also great to see that people have become more aware of energy efficiency. While in the year before the last, loans for energy-efficient homes guaranteed by KredEx were taken out by 113 households, then in 2017 there were already 265 such households,” said Reinsalu.

In addition to loan guarantees, KredEx also provided different aid last year aiming to increase the energy efficiency of buildings and improve the living conditions of people.

For instance, in 2017 more applications were received for grants to reconstruct small residential buildings, which help the owners of small residential buildings who wish to make their home more energy-efficient. Over the year, 258 small residential home owners applied for the grant – 119 more than in 2016.