Over the last few months, funding granted for the construction of wooden houses has reached up to 45% of all construction deals for private individuals financed by the bank. The trend is growing, as just a couple of years ago only every fifth loan was granted for the construction of a wooden house.

“Most often, when thinking about building a house, the construction of a masonry building is considered, however, an increasing number of Latvia’s residents are also choosing wooden buildings, which are a modern solution. The growing interest in timber-frame houses can be explained by the fact that their construction costs are more predictable, and installation also takes place in a shorter time compared to the classic construction process. Luminor data shows that clients prefer companies that have many years of experience in this field and that work according to the highest quality standards – and more of these are appearing in Latvia too,” notes Luminor bank’s housing lending expert Kaspars Sausais.