Агентство недвижимости RD Global

Housing prices continue to rise in Jurmala.

Prices for apartments in Jurmala last year rose by about 20%. The rise in prices due to high demand. Growth in real estate in the resort town, which greatly exceeds the demand for apartments in the heart of Riga and the Old City.

This is according to market research conducted by real estate agency Colliers International.

In July this year in new projects proposed purchasers of Jurmala only 52 apartments and 140 apartments ready for sale, for various reasons have not been exposed. Over the past 3 years in Jurmala almost no new housing projects were implemented and completed in a few apartments and houses for sale are not displayed in connection with legal issues that decide between an organization's finance and project developers.

"Lack of housing supply in the coastal zone of central Jurmala, is likely to continue - at the pace of construction in this area affect the limited land resources. But over time, the proposal would be able to grow significantly, because, despite the large number of finished, but unsold apartments, some developers in the near future plans to build apartment buildings in Jurmala, which will meet customer requirements, "- concludes representative Denis Kayrans Colliers International.

Interest in the property in Jurmala show mostly foreign nationals, mainly from the CIS.

Prices for apartments Jurmala

Now in the center of Jurmala in the initial stage of construction is 2 of the project, in which 15 of the 37 apartments are already reserved or sold. In non-central part of Jurmala in a similar stage of implementation are still 3 of the project. Of the total number of apartments - 89 - about one-third has already been reserved or sold.

The range of prices for apartments in new buildings downtown in June 2011 ranged from 3500 to 9000 euros per square meter, in turn, away from coastal areas - from 1350 to 2900 euros per square meter.

Compared with 2010, prices for some apartments near the shoreline has increased by 20 - 30% and exclusive projects in the central part of Jurmala, price per square meter, fully finished, built-in appliances and furniture ranges from 4500 up to 9000 euros .

The majority, ie 80% of transactions in new projects to occur in the secondary market, so the apartments are sold fully finished, built-in appliances and fully furnished. The highest demand is for two or three bedroom apartments ranging from 110 to 150 sq.m. Buyers pay attention to the cost of maintenance and upkeep of apartments. In choosing the preferred buyer ready and staffed apartments, not to spend additional time and money on administrative and construction issues.

The largest number of registered transactions recorded in February and March 2011, mainly due to the flow of foreign investors who came to Latvia in the New Year holidays.

Investors to find a suitable apartment for 2-3 days come, and the New Year and Orthodox Christmas - a period that can be used to select the real estate. To request and to issue a residence permit, as well as documents in the Land Register should be 2-3 months. Given all this, we can predict that this fall the number of transactions on real estate may increase again.