The growth of Latvian real estate market observed in the last two years, likely to continue in 2017, but housing prices will grow by 6-7%, according to the portal the Baltic Course with reference to data of the information Agency LETA and the statement of Aigars of Zarins, the General Director of Agency of real estate Balsts.
In order to make the forecasts come true, for entrepreneurship, small businesses and foreign investment must be created favorable conditions, said Zarins.
In 2016, the real estate market in Latvia has experienced constant change, including rising demand from local buyers. Thus, in comparison with the year 2015 the volume of home sales grew by 10.5%. In many ways, this contributed to a government program of support of young families with children.
The average cost of apartments of the Soviet period increased by 6.5% and prices in the primary apartment was ˆ1000-1750 per sqm in the suburbs and I 1450-3800 in the centre of the capital. The greatest demand is for small apartments with two and three rooms.
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