Most Latvian residents have changed three or more homes during their lifetime

Most Latvian residents have changed their place of residence at least three times during their lifetime, while 30% have moved five or more times, according to a survey by Luminor Bank. Meanwhile, only 8% of the population have lived in the same home all their lives. According to Luminor survey data, almost a third or 30% of Latvian residents have changed homes, including rental homes, five or more times during their lifetime. The largest number of people who move frequently are in the age group from 25 to 34 years old, as well as among those living in Pieriga, it can also be concluded that women move more often than men. 32% of the population have changed their home three or four times during their lifetime, 16% – twice and 14% have moved once. Only a small part (8%) of the population have lived in one house their whole life – more often they are unmarried people, 21% of whom have never moved, as well as pensioners and residents of Latgale. “At different stages of life, people’s housing needs are different – the need to move is influenced by factors such as family status, job change, daily needs, interests, as well as financial opportunities. Those who live in rented housing move more often, while those who bought their own housing , using a mortgage loan, they do it less often. A home loan is a serious and well-considered decision, it is usually the biggest financial commitment we take on in our lives for an average of 20 years, but it is good to remember that it is not an obstacle to changing homes…” Read the full article here