Experts predict fall in prices for real estate in Latvia
15 December 2007Experts of Latvian real estate company Balsts consider that next year will become dominant for the real estate market of Latvia. Fall in prices for real estate in the country is being held for the last eight months.
Balsts’ experts say that in 2007 in the market of the real estate of Latvia faced turning point: it was the first time for many years that falling in prices was observed. According to experts’ forecasts, in the end of 2007 the general falling of the prices will reach 15 %-16 %.
Balsts’ experts predict that falling in prices for typical habitation will proceed during the following year, but rates of falling will be slowed down.
Analysts consider that monthly falling in prices should not exceed 1 % and concerning the rent market, here the prices will continue to grow. In first half of 2008 the cost of rent of apartments in micro districts of Riga will reach the present prices in the center of capital.
