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Published: 26 June 2014

Growth of housing loans halted

According to Statistics Finland's statistics on indebtedness, the average housing loan of household-dwelling units with housing loans was EUR 93,620, which was in real terms around EUR one hundred less than in 2012. In the early 2000s, the average housing loans grew, on average, by ten per cent per year, but the growth has slowed down significantly in recent years. The average housing loan of those with housing loans is highest in Uusimaa, where it amounted to EUR 119,500 in 2013. In Kainuu and Lapland, the average housing loan was lowest, around EUR 70,000.

Average housing loans of household-dwelling units with housing loans in 2002 to 2013, in 2013 money

Almost every third Finnish household-dwelling unit had a housing loan in 2013. In 2013, around 873,000 household-dwelling units in Finland had housing loans, while the figure was 660,000 in 2002. The share of those with housing loans among all household-dwelling units has remained almost unchanged during the past three years. Slightly more than every second household-dwelling unit had some kind of a loan in 2013. Eleven per cent had study loans and three per cent had loans charged on business activities or a source of income.

In relative terms, the number of household-dwelling units with housing loans was highest in the regions of Åland (39%) and Kanta-Häme (37%). The share of people with housing loans in all household-dwelling units was lowest in North Karelia (29%). The average housing loan of those with housing loans was biggest in the regions of Uusimaa and Åland. In Uusimaa, the average housing loan was EUR 119,500 in 2013. In Kainuu and Lapland, the average housing loan was lowest, around EUR 70,000.

The fallen general level of interest rates and the halted growth in indebtedness was visible as a considerable decrease in interests paid by household-dwelling units in 2013. Interests on housing loans per a person with a housing loan went down by 29 per cent from the year before. Household-dwelling units with housing loans paid an average of EUR 1,390 in interests on their housing loans in 2013. Changes in the 2000s have at times been large, and reflect changes in both the interest level and the average amounts of loans. At most, those with housing loans paid in interests, on average, over EUR 4,200 per year in 2008.

In 2013, there were 124,800 household-dwelling units in Finland that were more than EUR 200,000 in debt. The figure is 4.8 per cent of all household-dwelling units, and 9.1 per cent of indebted household-dwelling units. In 2002, there were only 21,500 such household-dwelling units, or under one per cent of all household-dwelling units, when loans in 2002 are measured in 2013 money. However, large loans of over EUR 200,000 per household-dwelling unit have no longer become more common after 2010. Large loans are clearly most common in two-adult families with children. In this group, every sixth household-dwelling unit had loans of over EUR 200,000 in 2013. Just 0.7 per cent of one-person households and only 2.2 per cent of single supporters had a corresponding amount of loan.

Source: Indebtedness 2013. Statistics Finland

Inquiries: Juha Honkkila 029 551 3651, Laura Lohikoski 029 551 3396, toimeentulo@stat.fi

Director in charge: Riitta Harala

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Updated 26.6.2014