Riga apartment price (Apartment prices in Riga); Riga apartment price (Apartment prices in Riga)
To: Latio CEO of Edgars Sins; Latio Girts Krumins, head of residential rental
TEXT: 0086-13901623260, ONLY
Riga apartment properties in the real estate market, the most active trading in November
Riga, December 2, 2011
The recent “Latio” the report said the housing market in November, the center of Riga, the most active real estate market, foreign nationals and local residents to purchase and lease of an apartment demand is very strong.
Over the past few months, buyers in the standard apartment type level of activity is relatively low, compared to Riga downtown apartment high-quality renovation or new project activity levels, increasing in the past year. Foreign buyers of real estate downtown Riga demand gradually increased, foreign buyers to purchase an apartment, sometimes in order to obtain temporary residence permits. Such buyers, mostly in love Latvian Lats price slightly higher than the 100,000 high-quality apartments, LVL 100,000, is the legal minimum amount of investment; have buyers in the old town of Riga or Riga more expensive apartment.
“The Riga city center do not choose to foreign buyers of new residential projects, the apartments have been refurbished, rational layout, with elevator and parking, it is very important that some buyers just like the housing with underground parking there justify, in the past year, the arrival of foreign buyers, a substantial increase in the quality of housing supply base, but is worth emphasizing that the local buyers in the central area of the apartment, would pay higher prices, more concerned about the apartment state, and they want a reasonable layout of the apartment without the maintenance of the apartment is still low demand for the capital city’s rental market need for high quality, comfortable and equipped with furniture of the apartment “,” Latio “apartments and detached houses, Head of Vija Gailite explained.
In November, city center apartment prices were flat last month, this year the whole, the price changes depending on demand, to meet the requirements of foreign customers apartment type housing is growing; slightly away from the center of the apartment, and without the maintenance Apartment activity level is low, prices were flat or even decline.
In November, the pre-war price of an ordinary apartment building, 900-1200 euros per square meter, through the maintenance of apartment prices, 1200-1500 Euros per square meter; the center of an ordinary apartment prices, 1200-1400 Euros per square meter ; through the maintenance of apartment prices, 1600-1800 euros per square meter; high-quality apartment buildings in downtown renovation starts, € 2,000 per square meter, some buildings of the apartment price, up to and over 5000 euros. Slightly away from the city center in the area; existing ordinary apartment prices, 650-900 euros per square meter; through the maintenance of the apartment price per square meter 900-1100 euros.
Riga lower level of standard apartment type of activity, affecting the average price in this category, the price in November, unchanged from last month, to 576 euros. Standard Apartment prices stagnated since January this year, down 1%.
Polish News Agency News October 18, in the third quarter, Latvia’s capital Riga, the average price of a standard apartment 575 euros per square meter, up 4.4%, a decline of 0.3%. Suburban apartments Riga lot better price 687 euros per square meter, from the far point of the suburban housing 470 euros per square meter. Riga city center apartments average price of 800 to 3,000 euros per square meter, good condition and even up to 5,000 euros a square meter. According to the Latvian land transactions data, the third quarter, pulling to increase the number of apartment transactions, July, August and September, the number of transactions were 489,674 and 564 transactions.
Riga standard housing sector buyer activity – the average price per square meter apartment 576 euros, in September, the third consecutive month, remains unchanged. The average price of the capital city of the standard apartment, since January this year, a decrease of 1%.
Compared to the summer activities of foreign buyers – the overall level is still quite high, especially foreign citizens Riga city center apartment demand is still the most exuberant. They renovated the building of the old city and new apartment development projects of interest, but also like quiet center of Riga and the surrounding area apartment.
In September, in the area near the center, in a satisfactory condition of the apartment price, ranging from 900-1,200 euros per square meter, refurbished apartment, for the 1,200-1,500 euros per square meter; in a quiet central area, condition satisfactory Apartment prices range between € 1,200-1,400 per square meter; refurbished apartment, to 1,600-1,800 euros per square meter. In the central area, renovation of building high quality apartments, starting at 2,000 euros per square meter; Some prices may be close to apartment buildings and more than 5,000 euros per square meter.
In the apartment rental market, provides all the recreational facilities and furniture are available, the maximum area of 80 square meters of one room, two bedroom and 3 bedroom apartments, the monthly rent for 380-600 euros (public facilities do not charge fees). Riga city center available for rental housing shortage; provide apartments, most of all, there are some basic shortcomings, for example, renovation of poor quality, no parking, rent is too high. In Riga city center, to meet the needs of the tenants once the vacant apartments, will be rented out immediately.
Greatest demand for apartments is high, decorated and equipped with furniture of a room, two rooms and three bedrooms apartments, an area of up to 80 square meters, the monthly rent for 380-600 euros, including utilities. The supply of such apartments is currently very limited.
In August, the center of an ordinary suburban apartment prices, 900-1200 euros per square meter; renovation of 1200-1500 Euros per square meter apartment; the urban center of an ordinary apartment prices, 1200-1400 Euros per square meter; renovation 1600-1800 euros per square meter apartment; refurbished superior apartments housing starts for 2000 euros per square meter; single-family homes up to 5000 euros per square meter; center of pre-war residential suburban middle apartment price per square meter 650-900 euros; renovation 900-1100 euros per square meter apartment.
Polish News Agency on January 3, according to the Latvian real estate company “Ober-Haus” data, last year, La Riga, the capital city of the former Soviet-era apartment price per square meter of 402.5 lats (575 euros), an increase than the previous year by 1.7%. This apartment is the largest suburb of Riga apartments. Local buyers who are most interested in buying 40 to 50 square meters apartment, set the price of 3 million euros.
Pull Newswire on December 6, according to the Latvian real estate company “HAUS” data, in November, the Latvian capital Riga City apartment prices, growth of 0.4%, mainly due to foreigners to purchase to obtain a residence permit, foreigners with two bedrooms or three-bedroom apartments are interested. Over the past 12 months, apartment prices in Riga increased by 5.8%. And apartments in Riga in May 2007 the highest price compared to the current, prices fell by 58.7%.
March 2011, according to statistics on average house prices have risen nearly 16%. Active demand for the rental market, rental apartment heat is 60-70 square meters in area one-bedroom, two-bedroom rental in the 500-600 euros / month. Riga, the capital city average cost of rent in an apartment near the 10-11 euro / square meter / month. In addition to other urban areas outside the central area, the price is 6-7 euro / square meter / month.
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July 1, 2010, the Latvian immigration law changes passed, as follows:
In Latvia foreigners to buy property can immediately be valid for five years to the Schengen residence permit, the permit holder, spouse and not more than 18 years of age are free to access and stay in the Schengen countries.
Eligibility criteria require the following one:
1, in the capital Riga and other major cities, the amount needed to purchase real estate not less than 10 million lats (about 143,000 euros, 140 million yuan)
2, outside the major cities, the amount needed to purchase real estate is not less than 50,000 lats (approximately 71,500 euros, 70 million yuan)
3, 5-year bank deposits and time deposits in Latvia 300,000 euros, or $ 400,000.
Latvia is how to provide for immigration policy: foreign investors can enjoy preferential emigration – tax incentives, preferential economic zones, import VAT and customs incentives, are foreign direct investment, immigrants can enjoy.
(A) tax incentives
State management support for large-scale investment projects receive tax subsidies, the total investment amount equal to 40%;
Business 30% reduction of high-tech products;
In 20% of small business tax-deductible;
Local government’s development strategy in accordance with local and regional needs, the approval of investment projects and other real estate tax reduction to 90%.
(B) Special Economic Zone investment incentives
Latvia has four special economic zones, including three located in Ventspils (Ventspils), Riga (Riga) and Liepaja (Liepaja) port. One in the inland areas of Rezekne (Rezekne) City. Companies located in special economic zones, receive the following benefits:
In this area relates to foreign goods and services exports, not value-added tax;
Real estate tax reduction of 80%;
Income earned in the area of income tax reduced by 80%; corporate real estate taxes and corporate income taxes total investment amount can not exceed 50%;
Dividend withholding tax relief on 80%; on the use of intellectual assets to pay the costs and management fees, etc. 80% reduction.
(C) VAT and import duty concessions
The following, not the imposition of import VAT and import duties:
Imports for processing purposes;
Processing under customs supervision and imports (in special economic zones or customs warehouses)
To ensure that importers and import transactions for fixed assets, especially technology and equipment;
Transported to the customs warehouse.
Since May 1, 2004 after the accession of Latvia began to implement a common EU policy. As a small country with limited private capital, foreign direct investment has become the main driver of its economic development. In order to attract foreign direct investment, government and regional authorities to pull through with a variety of business organizations, in many ways, as in the pull build the corporate, legal environment and management to improve the investment environment.
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