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LARGEST GROWTH OF REAL ESTATE PRICES HAS ATTRACTED THE INTEREST OF INVESTORS


Real estate company’s BALSTS observations made in the February shows that such factors as rising prices, increased investor interest in the Latvian real estate, young people's interest in the real estate agent profession contributes to the real estate market in post-crisis development.

The message about the fastest and highest housing prices growth in the world throughout the year - 19.09% - has made interest in foreign investors in our country. Obviously increased Scandinavia’s and our neighbours’ – Lithuania’s and Estonia’s - interest about the Latvian real estate.


Of course, the real estate market development is decreasing because of low-solvency of the population, unclear Latvia’s future strategy and tax policy, as well as the bank's lending, but however in the future we expect that price growth will continue.


Another important factor, which improve more rapid development of the market – is young people's interest in the real estate agent profession. According to the company's research results  the number of candidates have already begun to grow in December 2010 and continues to grow. At the moment  number of CV is about  21% higher than at the end of 2010. Mostly in real estate agent's profession are interested students, as well as people who are  energetic and ambitious.


"This year have not begin with sharp change in property prices in Riga, the average price remains unchanged 645Eur/m2.


For the commercial segment has been increasing demand for large industrial and warehouse premises – 1000 - 2000 m2. In the centre of Riga the interest is increased about the retail space premises, where are big people flow," the situation in the real estate market explains the real state company's BALSTS CEO Aigars Zarins.



More information you will get:

BALSTS, Audeju Street 8,

Mob.: + 371 67076191

Fax: + 371 67076199

info@balsts.lv, www.balsts.lv

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