Latvia is hospitable European country. It's not only geographically and politically, but also architecturally European. We can see new challenging projects under construction and completed, as well as reconstructed historic buildings in Riga, capital of Latvia.
Market of the high-end housing is on the up due to Latvian and foreign investors who buy luxury apartments. Latter is not surprising, since a lot of foreigners dream to get a residence permit in Latvia, which is available when purchasing a property in Riga region priced at more than €142,000.
So, bring your attention to five of the most elite residential complexes of Riga, where apartments are already offered for sale.
Picture: full size
Elizabetes Park House (21 Elizabetes Iela)
Residential complex "Elizabetes Park House" is located in the quiet city centre, in what is called the Embassy District, at the intersection of Elizabetes and Strelnieku. The building was built in 1910. The renovation took place from 2010 till January 2013. Investors have spent €11 million to purchase the building and to reconstruct it.
Nearby there are Albert street where one can find Art Nouveau buildings constructed by famous Eisenstein, and the Kronvalds park with the channel and pedestrian bridges. In this area there are many fine restaurants and cafes. In twenty minutes of walking through the park one can get to the Latvian National Opera and the Old Town.
There are 18 luxury apartments in Elizabetes Park House. The ground floor provides space for offices. Charity fund , branch of the bank, jewelry shop and currency exchange rent it, so residents won't suffer from noise.
Most of the apartments have been sold during the reconstruction phase. But now two -, three- and six-room apartments are stil available. For example, two-bedroom apartment of 146 sq.m goes for €1,025,000.
Cenra Nams
The location of this complex that includes a business center and apartments is one of the most exclusive in the capital of Latvia. The building is located on Republikas sq. in the immediate vicinity of the Old Town and the Daugava (Western Dvina) River embankment.
The building Centra Nams contains 219 apartments, art studios of modern design. Offices, shops, a restaurant and a sports center are on the ground floor.
The architecture is of the most modern solutions: a spacious terrace and an attic, porch, four high-speed elevators, beautiful gardens on the roof. Underground parking is optimized for 200 cars and 20 motorcycles .
Excellent location and advanced architecture leads to high prices starting with €4,000 per sq.m, depending on the layout and floor. For example, two-bedroom apartment of 119 sq.m on the eighth floor is offered for € 497,000.
Gypsum Factory(Ģipša fabrika)
A unique residential development located in a protected part of the Kipsala island. The main value of the project is not only location in a quiet coastal center of Riga but also a combination of high-quality architecture and comfort of XXI century. Ķīpsala Island - is a buffer zone of the historic centre of the city, which is listed as UNESCO World Heritage Site.
The project consists of 58 luxury apartments and four exclusive villas on the banks of the Daugava River. It offers views of the Old Town and Presidential Palace. There are a courtyard and a garden, right under the windows there is mooring for yachts , boats and motor boats. There is also one of the best restaurants in town inside of "Gypsum Factory". A two minute walk is the Islande Hotel with its restaurants, bars and SPA-center.
Apartment buildings have interesting names: Red ship house, Black coal house, Old production building.
Customers are offered apartments with one, two and three bedroom (of 70 to 170 sq.m). Despite the high price (from €2,500 per sq.m), the project is quite popular, and at the moment 50% of apartments are reserved or sold.
Z-Towers
This large-scale project of real estate in Riga should not go without mention. Construction of the twin towers had started on the banks of the Daugava River in 2008 . Then there was a lull , but now the construction speed has accelerated markedly, and according to the assurances, towers will be completed to late 2015. At the very least , the official sale has already started. The minimum price per square meter is € 3,000, but in the penthouses is € 10,000. The first apartment was sold for €6,2 million.
26 Kugu Iela
You still can to buy apartments in the house of the famous Italian investor Ernesto Preatoni. The building is located in the centre of Riga, on the Daugava River banks. An ideal quiet place. There is a beautiful view from windows of the river and the towers of the old city. Kugu 26 is a gated community with 24 hour videosurveillance. Radisson Blue Hotel with its bars, restaurants, saunas, pool and gym is located nearby. The price of apartments starts from €3,500 per sq.m. For example, a four-room apartment of 240 sq.m, with three bedrooms and three bathrooms, goes for €950,000.
Text: Vladimir Dmitriev, Riga, specially for ee24.com.