The prospects of the Latvian real estate.

On the prospects of the real estate market in Latvia: "Taking into account the factor that appears in the fashion among the Russians in Riga and Jurmala coming here can join investment multiplier - and then the money can come here very much. As once in Spain, Bulgaria and Cyprus. " As to the mass housing market - is also not ruled out the appearance of large speculators in Russia, but under certain conditions. On what are these conditions, as well as on the real estate market in general Vadim Markov said in an interview with "Business News". By pre-crisis prices - Afraid of the debt crisis in the eurozone and a default in the U.S., the Germans are investing in real estate. If we talk about investments for a period of 5-10 years, would you recommend to buy something in Latvia?

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.

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.

Real Estate in the heart of Riga and Jurmala is inaccessible to local residents.

The housing stock in Riga and Jurmala, and apartments in new projects will not be available to local buyers, as in these market segments are deformed in real estate prices in Latvia influx of speculative capital will not bring her long-term bonus, I'm sure one of the leading experts in the Latvian real estate market, now professor of Riga Technical University of Maris Greenberg.

Prospects for real estate in Latvia

According to experts in the medium term property prices in Latvia will grow within 3 - 4% annually. And the price of residential properties particularly successful premium, located mainly in Riga and Jurmala, in the current year may grow by 15%.

Commercial Real Estate in Latvia

Commercial real estate market in Latvia during the last 6 months shows increasing activity. Experts agree that today we can speak about the restoration of commercial real estate market is of decisive importance for the position of banks as the market of commercial and residential real estate. The complexity of credit limits demand. At the same time, banks, owning a large part of the alienated property, not in a hurry to sell it on the open market, expecting a rise in prices in the future.

Latvian real estate market outlook for 2011.

Within a year or two in Latvia again could be shortage of quality real estate, and in all market segments - such a forecast made after the company Colliers International market research of real estate in Latvia. In his interview for the newspaper Telegraph, managing director of the Latvian office of Colliers International said the "2010 real estate market was more active than 2009. There was more transactions in the segment of commercial real estate and residential real estate segment, which confirmed our previous forecast of pent-up demand. "

Real estate agency offers RD Global Purchasing property at auction in Latvia

Property sold in Latvia in the auction - it's a good chance for those who would like to buy a house, apartment or commercial facility at a price far below market prices. The main reason why real estate goes up for auction is a worsening financial situation, its owner and as a consequence, the inability to pay the mortgage. During the bidding real estate can be purchased at 30-70% below its market value. Dates are announced in advance of such auctions by the courts and published in special media.

Real estate prices in Latvia show a rise, the market continues to stabilize.

Experts NIRA Fonds in his review of the real estate market in Latvia are seeing an increase in prices in October at an apartment in a production house in Riga: a good typical apartment has rarely offer cheaper 520-550 euros per square meter. m. The number of transactions in which both appear on two or three apartments. Bad apartments are sold, weighed down by a bank loan. Owners of commercial premises in the city center do not want to make deals with low interest rates for a period longer than a year. Prices for rental of residential property in Jurmala fell 2-3. Rates for rental of commercial properties in Riga low as ever. Average prices of offers in the market of apartments in Riga serial houses grew in October. If they were in September at 480 euros per square meter. m, now a rare good offer is cheaper than 520-550 euros per square meter. m. While the range of buyers are still reluctant to buy an apartment, if the cost per unit area in these lower-level title. In the bidding process, they invariably try to get at least a 10% discount. The higher price is possible only for an object with certain competitive advantages - the presence of really good European-quality repair, kitchen and home appliances, which consumers are ready to leave the former owners, the prestige of the house and a good choice of location. More than other buyers interested in the sleeping districts of Riga - Purvciems, Teika, and Plavnieki Zolitude. Top most popular city model apartment projects led by the 119-home series. Further, with decreasing popularity, followed by a series of 104-I, 103rd and brick "brezhnevki", 467 th, 602 th, "Khrushchev", "Lithuania" project. Completing this roster and the so-called Malosemeika malogabaritki. Latest - apartments of about 18 square meters. m, shower and kitchen shared. These options are offered 350 euros cheaper per square meter. m Buyers respond well to the "hot" deals - that is, at below market prices. However, despite the start of price stability, activation of specific market purchases and sales of standard apartments has not yet shown. Statistics show that the number of deals with model homes in October, remained almost the same level as in July - September. Carried out by the NIRA Fonds analysis of transactions showed that most are bought and sold type apartment without any encumbrances. But those who purchase in 2004-2007 was designed by a mortgage, charge less. This is because the amount of collateral is higher than the average market price for a similar apartment. Potential buyers are starting to more strictly limit the parameters of interest of housing. Criteria: The location of the home, number of rooms in the apartment and the main - the maximum price they are willing to pay. The new trend - an increase in the number of consecutive transactions with a large number of objects. The situation is somewhat reminiscent of early 90-ies of XX century, when the chain of exchanges may appear three to five apartments. "Now, however, not so much change, how much to buy - explains board member of the NIRA Fonds Eugenia Markova-Krumina. - People are willing to sell their property and move to a new one. The owner of that to which they are moving as well as looking for a new option for accommodation. In such a multi-way transaction without a qualified intermediary is not enough: it must take into account the interests of all parties to observe the talks. It is necessary to control every stage of this chain. " Due to the increasing number of complex chains, including two or three apartments, deals are becoming more persistent in the performance time. It should be noted that, as in the 1990s, most transactions are in no credit. Plus, people at the checkout trying to save money on absolutely everything: the notary, a lawyer, do not tear off the bank account transactions. Which is pretty risky.

Analysis of real estate investments in Latvia.

Latvia - a European country - well-groomed fields and farms, fabulous roads, the Gulf of Riga and the sandy beaches, lakes and nature reserves, parks and castles, campgrounds and modern hotels, large supermarkets and shopping malls, expensive cars. Throughout flower beds, restaurants and cozy cafes.

Active buyers from Russia and CIS real estate market in Latvia in 1st half of 2009

1. General characteristics of the real estate market in Latvia 1991-1996. The real estate market in Latvia was formed in 1991 after independence, when the state reform of property rights. Until that time almost all property was nationalized and state-owned. 1997-1999. Became an important milestone in 1997: Latvian banks have to lend for mortgages citizens of his state at a sufficiently favorable terms. This gave an impetus to increase the number of trades and prices (available credit led to the demand, which resulted in a rise in prices). 2000-2007. Since 2000, all the more serious impact on the real estate market in Latvia has to render future entry into the EU. Depending on the stage of negotiating the real estate prices rose. This is primarily due to the fact that foreigners began to show increasing interest in the new EU members. Since Latvia joined the European Union, began to provide mortgage financing and foreign banks, which triggered a boom in the Latvian real estate market. Stepped up construction of new housing, reconstruction of luxury houses and apartments in the city center and the spa town of Jurmala. Gradually increase the demand for real estate started in other cities of Latvia. Prices until the middle of 2007 for residential real estate grew by 30-40% per year mainly due to speculative purchases. Restrictions on lending have saved the situation - the crisis in the fall was inevitable and rapid. During this active growth followed by no less devastating decline, on average amounting to 30% from a year highs.

Real estate in Latvia: up the stairs leading down?

The economic crisis on the Baltic coast caused serious damage to these markets, especially in Latvia. Baltic countries, particularly Latvia, among the first to have felt the influence of the global crisis - said Natalia Zavalishin, director Miel Distant Property Management. - Especially strongly it affected the real estate market where prices have fallen nearly in half, and in some cases and more. " "Indeed, the Baltic States show the greatest decrease in cost per square meter for the entire European continent - continues Skomorovsky Eugene, Managing Director of CENTURY 21 West. - Overheating of the market, which said two years ago, appeared in full in the last year in an unprecedented decline in sales volumes. Similar dynamics can also be seen on the results of I quarter of this year. " Falling prices for nedvizhimostv Latvia, Lithuania and Estonia began over a year before the crisis. It (the crisis) only made matters worse.

Anti-crisis investment: foreign real estate.

Russian real estate market for a year suffered from a lack buyers: the offer remains unclaimed in all price segments. Meanwhile, companies operating with foreign housing, on the contrary, the demand is not complaining. Many Russians still believe that buying an apartment or villa in warm areas - not a luxury but a way to save money. Being in a deep crisis peak, real estate around the world continues to lose value. It is true that the dynamics of this highly heterogeneous. Somewhere reduction is a long time and is now coming to an end somewhere, in contrast, is just beginning. In Europe, the hardest hit market in Latvia, which became the "leader": prices dipped last year by 33%. Also fell significantly etc. According to the head of department of foreign real estate companies, "Best-property" Julia Titova, the largest drop in prices observed in those countries, the housing market which was severely overheated. In some countries the impact and consequences of the construction boom. "So, in Spain in recent years been very active was under construction, which has stimulated strong demand from foreigners. Since the beginning of the crisis they are gone, but the market was saturated, "- says CEO" Miel DPM »Natalia Zavalishin.

What awaits us abroad: Market Review

Global real estate markets are experiencing difficult times, in many countries, prices are falling, mortgage take difficult construction freeze. But Russian customers do not worry - experts believe that it is the best time to buy property abroad. Than the current market situation favorable to Russian buyers, who each year are increasingly enter foreign real estate markets? Quite simply, real estate has become more affordable, developers are willing to make substantial concessions. Now is not the seller chooses the buyer and the buyer - the seller.

Is it time to buy overseas property?

For confident buyers - with money or access to credit - there was now the best situation, in order to benefit real estate purchase. Perhaps then this chance will not be presented for a very long time. Do not miss the moment ...