Foreigners are buying up the land mass in Latvia





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08.10.2010 10:15
Of the ten private enterprises in Latvia which owns the biggest tracts of land, only two companies controlled by the Latvian natural or legal persons.

It is reported Latvijas Avīzē with reference to the annual report Baltic Screen, which is compiled based on data from the State Land Service.

According to figures from year to year in Latvia growing trend for acquiring large plots of land by foreigners.

During the year, foreign firms have acquired in Latvia 36 000 hectares of land, which is 50% more than a year earlier.

Moreover, experts note that the process of buying and selling large land area in Latvia is almost completed.

Most large tracts of land - 49 306.59 acres - owned by Norwegian company Storebrand Livsforsikring AS and enterprise Foran Real Estate, in which 7.8% of capital owned by entrepreneur Gundar Skrundinshu.

The second list is the SIA Rīgas meži - 32 027.47 ha, the third largest Swedish enterprise Bergvik Skog AB, the fourth - Swedish firm SIA Fragaria, the fifth - again, the Swedish company Sodra Skogsagarna Ekonomisk Forening.
www.zagorodna.com
Content tags: Overseas property
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