In the segment of apartments, private houses and land plots worth more than 350 thousand euros, in the first half of 2021 - very good results.
In Jurmala, 26 houses were sold (total transaction volume 14.6 million euros), in Riga - 7 houses (total transaction volume 3.3 million euros), in Riga suburbs - 5 houses (total transaction volume 2.5 million euros).
In total, 376 properties were sold for 99.5 million euros. By number of transactions - the best figures in five years.
Houses 20-30 km from Riga are in demand (Jurmala, Marupe, Bergi, Carnikava), with an area of 150-350 square meters, with well-thought-out layout and modern finishing.
These areas have developed infrastructure (schools, shops, recreational areas). These are green and safe places.
Within Riga - there are very few places where private houses are located. The most prestigious is the forest park district of Mezaparks.
In Jurmala - demand significantly exceeds supply, as relatively few properties are built and put into operation annually.
Houses that are ten or more years old are in the least demand. Often, they require renovation, the cost of which is difficult to estimate.
An interesting fact - since Jurmala developers began to focus on local buyers, the average transaction amount in the luxury segment has decreased.
Last year, the average cost was 1.1 million euros. And this year, dividing the transaction volume by the number of transactions, we get 629,000 euros.
Another observation. Before the pandemic, many families owned two properties. For example, an apartment in the Center, and a house in Riga suburbs, for weekends and summer vacation.
Recently, demand for apartments has decreased, and demand for houses has increased. After all, if housing is high-quality and spacious, it can be the only one.
According to our observations, quality real estate is the best way to preserve money in a family. On the one hand - a safe and reliable investment.
On the other hand - property that you can use yourself, for comfortable and quality living.
If you want to purchase any good real estate property, and individual approach is important to you, if you want to communicate with a realtor and lawyer in your native language, then contact our company KOM-INVEST! We will be happy to select a suitable property, answer all your questions, draw attention to significant nuances, finalize the transaction, arrange a residence permit and manage your real estate.
For more detailed information about obtaining a residence permit in Latvia, see here in different sections.
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Email: info@kominvest.com