Poll commissioned by the bank SEB this June shows that 65% of Riga residents and 52% of the country population in general expect a rise in residential property prices in Latvia, writes ee24.com citing seb.lv.
Edmunds Rudzitis, expert on the social economy at SEB, explains that people with high incomes who are confident that their financial situation will improve, are tend to believe in the upcoming rise of the market. Optimistic position regarding their future allows them to predict the increase in housing prices.
Slightly more than half of Latvians believe that housing price will rise, 25% of respondents believe that in the next 12 months property prices will remain the same, 16% do not know, and 7% expect prices will become lower (in the previous poll the figure was about 8%).