Riga, Nov 23 (LETA) - About half of the residents of Riga and other large cities are considering or have at least thought about buying a home and moving to the countryside or a small town, Luminor Bank informed LETA, referring to a survey.

The interest in living outside the big cities in Latvia remains consistently high, said Kaspars Sausais, Head of Housing Lending at Luminor Bank.

Overall, 10 percent of residents of Riga and big cities would definitely consider buying a home in the countryside or in a small town, but 20 percent have thought about it, and 19 percent would consider it if they had adequate working or living conditions.

The survey data shows that young people and people of economically active age are more open to the idea of living in the countryside or in a small town. More than half, or 54 percent, of 18-29 year olds said they would consider it. Men are also more likely than women to have thought about and to be willing to consider moving.

The same bank notes that a significant share of the Latvian population, or 30 percent, is not willing to leave the city, a share similar to other Baltic countries - 25 percent in Estonia and 33 percent in Lithuania.

Over the last few years, Luminor Bank has seen a gradual increase in real estate lending in Latvia's regions, with one in four of the bank's home loans issued this year for the purchase of a home in one of Latvia's regions.

According to the bank, this is driven by the expansion of remote working opportunities, the search for quality of life close to nature, as well as relatively more affordable property prices in the regions. Demand for housing loans in the regions is stable, with purchases of existing homes being financed more frequently, and construction projects for new private houses slightly less frequently.

The Luminor Bank survey was conducted in September 2025 in cooperation with the research agency Norstat, with a total of 3,011 respondents in the Baltics aged 18-59.