Housing prices in Latvia are swollen

11.10.2010 17:20
Real Estate Market Analysis | Housing prices in Latvia are swollen Worldwide real estate market of the algorithm calculating the price - the cost of apartments is 100 rent payments. In Latvia, the proportion is constantly violated in the so-called times of "bubble" in the market for home purchase have made about 400-480 lease payments.

Head of real estate company Latio in an interview with Diena newspaper, noted that continued, despite a significant decline in prices in the market, buying an apartment is still more than 200 rent payments. "Contrary to the solvency of the population prices are still twice as high," - said the expert.

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According to him, if a person buys an apartment, he overcharged twice, so advantageous to rent.

Shines says that it is difficult to analyze the market, since so many apartments in the moment "taken" in anticipation of better times. This is particularly true of housing in new buildings.

Others interviewed by the publication, experts note that in Latvia insignificant market rental housing, there is little long-term contracts, say for 10 years. But prices in some projects is gradually increasing, for example, last year in an apartment Skanstes virsotne could be bought for 900 euro per square meter, and today - for 1300-1400 euros per square meter.
Content tags: Overseas property Housing
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