In addition to implementing developer projects, we observe very high demand in the private house segment.
This is also confirmed by analysts at the Latvian bank "SEB", who recently prepared a market overview.
Construction costs are constantly increasing. Three years ago, a square meter cost 1,000 euros. Two years ago - already 1,200 euros. Last year - 1,300 euros. And this year, already 1,500 euros.
Prefabricated houses, which are manufactured at the factory and assembled on a land plot, have also become more expensive, by approximately 20-30% per year.
Despite this, the "SEB" bank notes high interest in purchasing land plots and building private houses. About a third of all loans issued for construction and renovation of residential property in the first quarter of this year were intended for building private houses.
Another important factor is pandemic experience. Even the most comfortable apartment cannot compare to a private house, where you can set up an "office" and go outside to breathe fresh air.
And finally - an energy-efficient house (regarding heating systems, water and electricity consumption) requires less expenses than an apartment.
All together, this stimulates demand for both house construction and the purchase of "secondary" houses.
If you are interested in buying or building a house - contact us, our company KOM-INVEST will be happy to help!
Have questions? We look forward to your email or call!
Phone number: +371 29774775 (Viber, WhatsApp)