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Housing burden getting heavier
Housing burden getting heavier
Tórshavn currently has a housing burden of 40 percent. Eysturoy’s figure is 21 percent
The average housing burden in the Faroes is 25 percent. Archive photo: Bjarni Árting Rubeksen
16.05.2023 - 06:00
The housing burden is getting heavier and heavier, according to the latest figures from Betri Banki.
The housing burden is a measure of the percentage of the income of a couple with two children younger than seven is spent on their mortgage.
Last year, the figures for Tórshavn and Eysturoy were 37 percent and 20 percent, respectively. The average figure for the whole country was 25 percent.
The year-to-date figure for Tórshavn stands at 40 percent, while Eysturoy is at 21 percent. The average for the country remains at 25 percent.
Read the Faroese version of this article here.
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