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Market report about situation on February 2014



WILL INTEREST DECLINE FOR PROPERTIES NOW IN MOST DEMAND?

"250 000 euro to obtain a property for temporary residence permit – this is more than a 60% increase in the qualifying amount are expected if the amendments to the Law of Immigration will be adopted. Now for local buyers the predominant transaction amount is around 100 000 euro, while non-resident are in leading position for the segment from 100,000 to 200,000 euro. If the amount to qualify will increase, then the most active part of the market will remain without buyers. The economic situation of local buyer exclude the upper segment , while non-residents are looking for a properties in the highest “shelves”. At a time when the market begins to recover, it should be stimulated by all means, instead of attempting to put additional obstacles”, explains the CEO of company BALSTS Aigars Zarins.

 

In February of 2014 apartment price increases was observed of 0.26 to 1.11% in most of the secondary market, as well in the center and new projects. 0.44% price drop were observed only in Bolderāja, where average apartment price is lower than 450 Eur/m2. For February BALSTS index increased by one point and reached 138 points.

  nbsp The number of transactions in February compared with the previous month, decreased by 12%. The fall can be explained by in 2014 January by an unusual and unpredicted high number of transactions, which have been the largest in the last 7 years.

In the commercial lease segment still active is warehouse and industrial space demand. The greatest lease demand is for space with areas from 500 to 1,000 square meters. Commercial land supply still exceeds demand, therefore, economic activity in this segment is too low to produce a rational market price.

 

 

 

Plašāku informāciju iegūsiet:

BALSTS, Lāčplēša iela 41,

Tālr.: + 371 67076191

Fax: + 371 67076199

info@balsts.lv, www.balsts.lv

  

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