If there was an opportunity to do so, then 40% of young people would choose such a home, according to the results of the survey of 400 young adults carried out by SKDS for Luminor. Only 23% of young people would like to live in an apartment in the center of Riga.
When asked what kind of property they would choose if they had the opportunity and need to buy their own home, young adults most often indicated a private house in Pierīga (40%), followed by an apartment in a Rīga suburb (32%) and then a private house in a Latvian city other than Riga (31%).
Equivalent survey data from Lithuania and Estonia also showed that, perhaps surprisingly, young people are not particularly keen on living in the centers of their capital cities. In Lithuania, the most popular options is a private house in one of the Lithuanian cities outside Vilnius (34%), while in Estonia young people most often dream of a house in the countryside (33%).
Interestingly, the data showed that the youngest people surveyed in the 20 to 25 age group were much keener on living in the city center (40%) than those slightly older in the 26 to 30 age bracket (8%).
“The situation is similar in the neighboring countries as well, but this difference in proportion is not as pronounced as in Latvia. We see that social life and access to entertainment are more important for younger people, while young people who may have already enjoyed city life and are starting to think about family prefer to live outside the center - in a greener and more family-friendly environment,” commented Luminor's Home Lending Manager in the Baltics, Kaspars Lukačovs.
The survey was carried out at the beginning of October 2020, surveying more than 400 respondents aged 20 to 30 in each of the Baltic States.