In August, 1089 real estate transactions were registered in Riga.
A slight decline is observed, minus 1.9%, compared to July.
If we compare it with the first three months of 2020, before the virus spread, when an average of 1,247 transactions took place monthly, the decline is 12.7%.
According to our observations - demand for apartments has decreased, but demand for land plots and houses has increased.
Indeed - August was the most successful month in 2020 in terms of the number of transactions in the suburbs of Riga, where the main supply is private houses. Statistics show that 753 properties changed owners.
Summer was very successful in Jurmala - 122 transactions, which is the best monthly indicator in 2020. In 2019, this figure was exceeded in only two months.
In our opinion, more affordable housing is currently in demand in Jurmala, which Latvians, as well as our neighbors, Lithuanians and Estonians, can afford.
Adapting to the new realities, some developers are offering more compact and affordable apartments.
If you wish to purchase a quality property, if personalized service is important to you, if you want to communicate with a real estate agent and lawyer in your native language, please contact our company KOM-INVEST! We will be happy to select a suitable property for you, answer all your questions, draw your attention to important details, arrange the transaction, obtain a residence permit for you, and manage your property.
For more detailed information about obtaining a residence permit in Latvia, see here in different sections.
Have questions? We are waiting for your email or call!
Phone number: +371 29774775
Email: info@kominvest.com
Skype: KOM-INVEST