Housing prices in Jurmala overstated by 10-20%

Housing prices in Jurmala overstated by 10-20%

The prices of some properties in Jurmala are much too high. Owners must reduce the price by 10-20% to return customers. In particular it applies to private residences and luxury apartments worth more than 200 000 euros, according to a review of the real estate company Latio.

In late 2012 some sellers of expensive real estate began to think about the price drop, since housing is no longer in demand, and the prices were much higher than the market level.

In December 2012 foreign buyers are only interested in new apartments in Jurmala at the price of 200 000 euros, which corresponds to the volume of investments to obtain a residence permit. In addition, in Kauguri is demanded one-and two-bedroom apartments, which after purchase can be offered on the rental market, where they are in demand.