Property for sale in Latvia
According to International Monetary Fund data, the Latvian economy recovered pre-crisis levels in 2016. A similar upturn in economic activity can also be observed in the real estate market, where growth has been observed in the last three years both in terms of number of closed transactions of total amounts. The Latvian real estate market continues to focus on Riga and Jurmala.
Market of properties for sale in Latvia had a growth of average purchasing power and high income
In the cities of Latvia, the real estate market, although unusually active this year, is still constantly behind the activities of the more active region of Riga and Jurmala. The largest purchases in the property for sale segment are located not far from the dominant cities Babite and Baltezers. The fact that there is considerable interest in new projects in the Pieriga district suggests a possible investment objective in the future.
2017 was the most active year in the real estate investment market of properties for sale in Latvia with higher investment volumes in comparison with the previous record in 2008.
In total 33 properties have been sold in Latvia, for a total value of € 312 million. This is an increase of almost 22%.
The share of investment turnover in 2017 was the following in Lithuania: 44% for retail, 41% for offices and 15% for industrial properties for sale in Latvia.
According to the value of acquired property, Lithuanian and Americans were the main investors (53% from all investments). The rest of properties for sale in Latvia have attracted buyers from Finland, Estonia, Sweden, British, Danish and Norwegian capital companies.
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