Latvia's largest real estate agency (LATIO) has summarized indicators related to real estate demand and buyer behavior.
- Until recently, even "illiquid properties" were in demand.
This is due to the fact that many buyers wanted to protect their savings from inflation.
- If an object is listed at market price, a buyer can be found within 28 days.
At the same time, 16% of properties are indeed sold within a month (from the moment the listing is published).
- The problem is that 60% of sellers want to sell their properties at unjustifiably high prices.
- Another important indicator is that 24% of properties were purchased with their own funds (without taking out a loan).
- There was a 60% increase in the number of apartment buildings listed for sale. This is related to the upcoming increase in utility costs. Many are selling three and four-room apartments in order to buy one or two-room apartments instead.
- Private houses continue to be in consistently high demand (near Riga and in Jurmala) in the price category up to 250,000 euros.
Exactly 250,000 euros is the limit set by the state in a program to support young families taking out mortgages.
Buyers are also becoming more educated. No one is interested in homes that have not been put into operation, that are expensive to maintain, or that have poorly conceived layouts.
On the contrary - compact houses in areas with developed infrastructure can be sold even within a week!
- One and two-room apartments in new projects are also in very high demand.
Overall, demand (especially in the affordable housing segment) significantly exceeds supply.
Source: https://www.db.lv/zinas/nekustamo-ipasumu-tirgu-jauna-tendence-majoklu-vairaksolisana-508127
If you wish to purchase any good real estate property and personalized service is important to you, 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, complete the transaction and manage your real estate.
Have questions? We look forward to your email or call!
Phone number: +371 29774775 (Viber, WhatsApp)
Email: info@kominvest.com