“Why Property Prices in Latvia Are Still Affordable Compared to Neighboring Markets”

For many potential home buyers in Latvia, the current property prices seem high and do not inspire confidence in the possibility of getting the desired property, especially in a situation when it is not clear how much and for how long credit rates will increase. However, in several indicators, our market is in a much better situation than its neighbors, where prices have skyrocketed.

Properties in Latvia are still much cheaper. It is true that the average income in our country is also relatively lower than, for example, in Estonia. However, the “housing price to income” ratio shows that housing availability in Latvia is the best in the Baltics. At the same time, the expectations of those who would like to make money from real estate on the rise in prices,