How is the Latvia real estate market feeling? According to our observations, in March and April there was a "decline" in the number of transactions, in the sentiment of buyers and sellers.
Since the end of May, the market has become more active.
Transactions are happening on the local market, for example, the sale of an apartment in a new development for 120 thousand euros. Transactions are occurring with exclusive, million-euro properties.
Investment projects are beginning.
In our opinion, "expensive transactions" in the residential or commercial segment are explained by the fact that buyers want to invest money safely and stably.
Storing funds in a bank account is associated with risks. These are expenses for storing funds and account maintenance, the reduction in the value of money due to inflation, and currency risks.
If you invest a large sum in an exclusive mansion or commercial property, the money will not lose value. Real estate can be sold, rented out, mortgaged, transferred to heirs, and so on.
As of the end of June, the following trends are observed on the Latvia real estate market:
- The number of transactions has decreased by 30-40%. This is due to the fact that there are limitations on the ability to submit documents for property registration. Also, the registration of transactions itself takes more time.
- No mass price reduction is observed. In some cases, the reduction is 1-2% from the initial price.
- Banks continue to issue loans to local buyers. This indicates that banks "believe" in real estate and its liquidity.
If you wish to purchase a good real estate property, and individual attention is important to you, if you want to communicate with a real estate agent 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 your attention to significant nuances, arrange the transaction, obtain a residence permit for you, and manage your real estate.
For more detailed information on 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