House prices in Latvia increased by 2,5% in 2012

House prices in Latvia increased by 2,5% in 2012

Since the beginning of 2012, property prices in Latvia increased by 2,5%, due to the increasing purchasing power of customers and the number of transactions. According to the Riga branch of the Land Register, the number of transactions in 2012 rose by 7,3%.

Offer on the apartment market has grown in the first and second stable quarter, but the average offer remained at the end of 2011. There is no indication that in the near future prices for mass housing changed. According to experts, the maximum increase in prices could be 5%, which is associated with the stabilization of the financial situation of the inhabitants of Latvia.

In the commercial sector should be expected to increase prices by 5-10% in 2013.