The growth of the average gross wage decelerated to 6.5% in 2017. Swedbank expects the average gross wage to grow by 6% and the real net wage by 9% in 2018. The growth of the average gross wage decelerated to…
In 2017, Estonia’s GDP growth accelerated to 4.9% in real terms and to 9% in nominal terms. Economic growth was the fastest of last six years. The growth exceeded our expectations (our recent forecast in January was 4.4%). The growth…
As the economies of the European Union’s countries are on a rising trend, one cannot underestimate the growth of the Spanish market. According to CBRE, the Spanish economy has an expected growth of 2.5% compared to the European average 1.6%.…
The rapid and broad-based strengthening of the world economy that occurred in 2017 has exceeded expectations. High employment rates and increasing wealth sparks optimism in people, which is apparent in the increased spending of households. Improved demand has increased the…
Active December added an impressive final touch to another year of growth in the real estate market. 1942 transactions were made in December, which was more than average across the year, but the median price of the transactions increased to…
Inflation picked up last year due to higher commodity prices and an increase in excise tax rates. Higher excise taxes added 0.9 percentage point to inflation in 2017. Among different products and services, food and non-alcoholic beverages contributed the most.…
The housing affordability index (HAI) increased to 148.6 in Tallinn, 177.2 in Riga, and 124.8 in Vilnius. In Tallinn, affordability increased by 2.9 point in the third quarter of 2017 compared with the same period in 2016, as apartment price…
Classics would describe the November market review as ‘All Quiet on the Western Front’. November did not have any surprises in store for the market, the aftermarket activity was good, and real right contracts for new developments were mostly concluded…
Growth at its cyclical peak Productivity is the key to income convergence in the Baltics Sustainable development – where do we stand? Universal basic income – utopia or an urgent necessity? Growth at its cyclical peak The upswing in global…
In 3Q2017 Estonian GDP expanded 4.2% yoy and 0.3% qoq (swad) in real terms. In nominal terms, GDP increased by 8.9% yoy. During the first three quarters, GDP has increased by 4.8% yoy in real terms. The major contribution to…
Wage growth remains relatively high as labour demand increases more than supply. Swedbank expects the average gross wage to grow by around 5% and the real net wage by close to 9% in 2018. The growth of the average gross…
EstateGuru has taken possession of its first defaulted loan’s collateral and has started the sales process to regain investors’ funds. In October, Toome avenue development loan in the amount €224,000 reached its maturity date, however the borrower had become insolvent…
Swedbank Economic Outlook presents the latest economic forecasts for Sweden, the Nordic and Baltic countries and the major global economies. In this update, current issues that have a bearing on economic developments are analysed. Global – Strong growth momentum The…
The housing affordability index (HAI) increased to 159.9 in Tallinn, 183.5 in Riga, and 129.4 in Vilnius. In Tallinn, affordability increased by 0.2 point in the second quarter of 2017 compared with the same period in 2016, as wage growth…
Hit most by great recession and rising house prices Upcoming challenges: population ageing and tech revolution Negative effects on growth, public finances, and political stability In some respects, the current young Europeans can be thought of as lucky. They are…