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Real estate market starts growing

By Editor. 28.04.2010

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For the past three months (January-March 2010), the real estate market in Latvia has shown a much anticipated early trend in an upward momentum by an average of 2 percent per month and reached at the beginning of April the level of EUR 550/m2.



In general, starting in August-September 2009, when the cost of one square meter in mass-produced apartments fell to their lowest point, EUR 455, the market grew to the end of March by 20.8 percent. In January-February, buyers and sellers showed low activity – the number of sales contracts in January was only 405, which is about 30 percent less than usually committed transactions in the preceding months.
In March, the activity of customers grew and, although we do not have access to statistical evidence, it is possible to say that the number of transactions in general increased in comparison with the winter months of the last year.

 




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