The real estate market in Latvia is starting to cool down, but not as strongly as in other countries. The “shelf” from which to fall is low in Latvia. These are just some of the insights that came out in the expert discussion “Back to new normal” organized by the real estate company “Newsec” (“Returning to the new normal” – rough translation).
It seeks answers to questions about the availability of financing and its alternatives, whether construction costs have slowed down, which market segments are viewed by real estate developers as promising in the current conditions, and whether a decline in prices is expected.
At the moment, when putting together numbers in “excel” tables, the view is not very hopeful. However, if you have to choose one segment to focus on, then – economy class apartments, says Pēteris Guļans, real estate development director of “Pillar Capital”.
