Purvciems, Riga, Deglava 68
Naujenes parish, Daugavpils region, 0187305
FIABCI Baltic Real Estate Development Forum to look into the future of the real estate industry
The annual FIABCI Baltic Real Estate Development Forum is going to take place in Riga on 25-26 September.
This year, industry professionals will be granted an opportunity to have a glance into the future through the prism of real estate industry. The key topic of the forum selected by the organizers, will be futurology – study of future tendencies – exchange of opinions by experts and RE industry professionals on what are the forecasts that the future will look like, in the light of technological, economic, social and other kinds of tendencies and forecasting the development vectors to come, to include the emergence of currently yet non-existent tendencies, and how it can affect the RE industry.
Jūrmala is one of the country’s busiest markets for real estate transactions
“Baltic Sotheby`s International Realty” Sales Director Līga Kohtanena talks about this year’s trends and development prospects for the real estate market in Jūrmala. Jūrmala has always been, and will remain, the most active real estate market in Latvia. The reasons for it are the city’s geographical location (close to the capital, closer to an airport) coupled with advanced urban infrastructure, attractive environmental aspects, and a peculiar aura of wood buildings so unique to this city.
Baltic Real Estate Industry Leaders Will Meet in Riga
The annual real estate industry event will take place in Riga at the end of October, which this year announces itself under a new brand as Baltic Real Estate Leaders Forum. This is the most important meeting place of the year, attended by the leading industry companies, investors and experts of the Baltic countries to discuss topical market trends and to forecast its future development.
Housing affordability in Riga improves slower – Swedbank
Housing Affordability Index in Riga has improved in the first quarter of this year, but the improvement pace has slowed down, said Swedbank, citing the latest Housing Affordability Index (HAI) data. In the first quarter of 2017, HAI in Riga was 171.2, which means that household income was by 71.2 percent higher than needed for a housing loan that costs no more than 30 percent of the family's net income. The HAI is calculated for a family whose income is equal to 1.5 of average net wages with an average-sized apartment of 55 square meters. In a year HAI has improved by five points.
Investment in real estate: most suitable option for foreigners
Practically the best option is investment in Latvian real estates. In the case of investment in real estate the provisions differ and foreigner only has to pay real estate tax. In addition, it is not mandatory actually to live in Latvia, so the property might be leased and hence the return of investment is possible. Foreigners usually choose to receive a residence permit by purchasing a real estate (apartment) in Latvia. Frequently the apartment is bought as a joint purchase, especially in cases of family with over 18 year-old children. Latvian Migration Law provides that spouse and juvenile children (children under 18 years) are entitled to residence permit along with the main investor and they do not have to make any additional investment.