say that talks of a
sharp market activation is greatly exaggerated. Of
course, there is
an increased interest from non-resident parties,
however, the total background changes are
not noticeable. The number of transactions rose from
the beginning of the year to March, with an overall increase by
half, but for 3 months this market came to the same level.
This, as expected, is a year of stabilization,” the
market situation valued Aigars Zariņš.
far, non-residents were able to get a residence permit, if
they purchased a property in Latvia for at least
150 000 Eur. But now is supported the amendments to the
Immigration Law, supplementing it with the provision, that
the cadastral value of the property must be at least
30 000 Ls, if it is located in Riga region or cities under state.
in the law comes into force, they
diverge non-resident interest in the property more
valuable, automatically denying to buy housing located
in residential districts- in serial houses. Increasing demand
for housing in the center of Riga, Mezaparks and
Jurmala. As a result, prices in the
above areas could grow. Currently,
in Jurmala prices are artificially heightened - the average
price for one m2 is almost double of the exclusive
objects in Riga.
There is a high demand, however, happens
only few transaction. Increased non-resident interest
in real estate property in
Jurmala could justify this price increase,” the real
estate company BALSTS manager Aigars Zariņš gives a comment.
market of Rent there is a high
demand for high-quality apartment, but people are
not willing to pay the price, which is given, they’re
trying to reduce it. Overall, prices have remained constant,
average price for apartments in the
center range from 1,000 to 1,500 Eur / m2, depending on the
apartment's condition and location. The average price in embassy
district and Old Town
for apartments are 1800 – 2000 Eur / m2.
commercial segment remains a high interest in
the premises on the first storeys, in places with busy
information you will get:
Mob.: + 371 67076191
Fax: + 371 67076199