31. january 2014

Investments in commercial real property in Latvia doubled in 2013

Aggregate investments in commercial real estate in Latvia amounted to EUR331.5 million in 2013, almost twice as many investments in Latvia than in 2012, amounting to EUR176 million. The above investments cover commercial property, development property and plots with a sale price exceeding EUR0.4 million.

Such growth in investments in commercial real estate was promoted by the development of the entire Baltic region, the recovery of the Latvian economy, and investors’ interest in diversification in their property portfolios.

Cash flow generating commercial property is actively purchased by specialist funds and asset managers, whose assets originate mainly from Scandinavia and Russia. Local investors and private investors from the CIS countries tended to repurchase property from the banks’ portfolios; for the most part, it was property that needed to be rebuilt/repaired or for construction to be finished.

Source: city24.lv

Investments in real estate in Latvia