Published on 26 April 2007 at 12:10 pm
Filed in Property News for Latvia » Cure Your Addiction to Investment Property Returns in Latvia
If we’ve told you once we’ve told you a thousand times – property prices in Latvia cannot keep going up! And incase you have yet to cure your addiction to investment property returns in Latvia we’ve a whole host of new facts, data, figures and statistics to prove to you that if you really do want to be in this particular market you need to be in it for the long term.
For a start construction costs in Latvia rose by a startling 30% in just the first quarter of 2007 alone – this in spite of the fact that the government in Latvia introduced some serious inflation busting plans earlier this year. Then you have economists warning that despite what the government wants in terms of inflation reduction, they could be about to fuel the construction and inflation fire even further by allowing the development of three ambitious construction projects all at the same time…
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The property market in Latvia seems to be increasing in appeal almost daily as more properties become available for sale at such incredibly attractive prices. This guide to the property buying process in Latvia covers all the details for overseas real estate investors.
Because there are very few restrictions on foreigners wishing to buy property in Latvia the market has gained wide appeal and foreign direct investment into the real estate sector is now flowing freely.
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Riga, the capital city of Latvia is the centre for the majority of all property investment in Latvia at the moment; however many indicators exist to highlight the fact that there’s room for growth and development in the residential and commercial real estate sectors countrywide.
Basically Latvia has an incredibly robust and impressive economy that is growing fast and in a sustainable way creating good long term prospects for intrinsic wealth growth for the entire population which is already beginning to fuel domestic demand for property.
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Property buyers have been increasingly attracted to the real estate investment opportunities in Latvia’s capital city of Riga since 2000; but with a steady boosting of the local economy from sustainable horizontal foreign direct investment, opportunities are slowly beginning to appear countrywide.
Latvia is a true emerging economy in property investment terms with massive scope for development, for an increase in overseas and local market sector interest, for growing rental yields and for increasing underlying property prices. This is our country guide to Latvia for overseas property buyers.
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