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Friday, 19.04.2024, 21:44
Transactions in land for private development on rise in Latvia in Q1
BC, Riga, 27.06.2016.
Print version
Print versionDuring the first three months of 2016, the Latvian market of land for private development showed growing activity for the second consecutive quarter, as transactions increased by about 15% and the market expanded by 5%, informs LETA, according to the latest housing market review released by Latvian real estate company Latio.
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The number of transactions taking place on the market of land for private development is 23 to 25 transactions a month, Latio informed. The land plots traded in these transactions are mostly 1,000-1,500 square meters large.
The total value of the transactions reaches approximately EUR 1 million a month, while the total size of land for private construction traded in these transactions has grown to about 4 hectares a month.
During the first quarter of 2016, the number of transactions in more inexpensive land plot jumped 35%, while transactions in costlier land plots declined.
Thanks to several transactions in larger land plots, the average size of a purchase expanded by about 30%, according to the Latio report.
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