Real Estate

International Internet Magazine. Baltic States news & analytics Saturday, 20.12.2014, 19:12

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Amendments to Insolvency Law in Latvia postponed until March 1

Amendments to Insolvency Law in Latvia postponed until March 1

18.12.2014

Latvian Saeima passed amendments to the Insolvency Law in the final reading today, stipulating that the amendments will come into force on March 1, 2015, reports LETA.

Keyword tags: Financial Services, Latvia, Legislation, Loan, Real Estate



Latvian Pavilion at "Expo 2015" to be built by Swiss company for EUR 3.1 mln

Latvian Pavilion at "Expo 2015" to be built by Swiss company for EUR 3.1 mln

17.12.2014

The construction of the Latvian Pavilion for "World Expo 2015" will be entrusted to the Swiss company Adunic AG for EUR 3.1 million, the Swiss company is also building the German and Austrian pavilions for "World Expo", as Economy Minister Dana Reizniece-Ozola (Greens/Farmers) announced at a press conference today, cites LETA.

Daniel Libeskind unveils design for leisure center in Vilnius

Daniel Libeskind unveils design for leisure center in Vilnius

17.12.2014

The City of Vilnius, together with private investors and world renowned architect Daniel Libeskind have revealed the design for Vilnius Beacon at the Liepkalnis Ski Hill, reports BC Rasa Razgaitis from Vilnius City Municipality.


Latvian government allots additional EUR 1.6 mln for "World Expo 2015"

Latvian government allots additional EUR 1.6 mln for "World Expo 2015"

17.12.2014

The government decided today to spend EUR 1.6 million to cover additional costs for the national pavilion at "World Expo 20`15" in Milan, according to information acquired by LETA.

Price for the standard-type apartments in Riga continues to decrease

Price for the standard-type apartments in Riga continues to decrease

17.12.2014

In November 2014, the price decrease of the standard-type apartments that began a month earlier with a minimum price decline, continued in the housing estates of Riga. The standard-type apartment prices in November, compared to October, have decreased by 0.2%, and this price decline has been typical for almost all major housing estates or Riga, says Mr. Māris Laukalējs, Member of the Board of Directors of ARCO REAL ESTATE.

17.12.2014

Eesti Pank is setting 3 new requirements for housing loans from March

As of March 2015, Eesti Pank will be applying three requirements to commercial banks issuing housing loans as a precautionary step to decrease the risk of a credit boom in the future, Estonia's central bank announced, cites LETA.

17.12.2014

YIT will build a new shopping centre near Vilnius airport

The Finnish construction company YIT is going to construct a shopping centre Nordika in Vilnius, reports LETA/ELTA.

16.12.2014

Estonian construction businessman starts hunger strike in Helsinki

Estonian construction businessman Rain Kolga began a hunger strike in Helsinki to protest against the harassment of officials, Postimees Online cites Helsingin Sanomat.

16.12.2014

EfTEN acquires office building in Riga city centre

The EfTEN Real Estate Fund announced that it expanded its Latvia’s real estate portfolio by acquiring in auction A class office building in Lāčplēša street 20A, reports LETA.

15.12.2014

Housing affordability increases in Riga, but decreases in Vilnius and Tallinn in Q3

Swedbank housing affordability index (HAI) has slightly increased in Riga in the third quarter due to monthly salaries growing faster than house prices. However, due to the recently-amended insolvency law, the down payment for a mortgage loan has significantly grown, thus, affecting the housing affordability index, reports LETA.

12.12.2014

Daniel Libeskind designs sports, wellness centre for Vilnius

Construction of sports and wellness centre Vilnius Beacon, designed by Daniel Libeskind, should break ground in 2015 at Liepkalnis skiing course, the highest point in Vilnius, reports LETA/ELTA.

12.12.2014

Snoras sells historic property in Riga

Real estate company Colliers International has sold a historic building in Riga which was owned by the bankrupt bank Snoras, reports LETA/ELTA.

11.12.2014

Estonia builds headquarters for EU IT agency for 8.4 mln euros

The Estonian government approved on Thursday of the agreement between Estonia and EU Agency for large-scale IT systems (EU LISA), under which the state will build the agency headquarters for 8.4 million euros in Tallinn, LETA/Postimees Online reports.

11.12.2014

Grounds for obtaining a residence permit in Latvia

Since the latest amendments to the Immigration law came into force on 1 September 2014 the minimal price of the property in exchange for the residency has risen from the alluring 72 000 EUR to the quite unattainable 250 000 EUR. This is the reason why the number of foreigners interested in purchasing property in Latvia has increased considerably since the beginning of autumn. However many foreigners are unaware that in fact there are more than 20 other grounds for obtaining a temporary residence permit in Latvia!

11.12.2014

Construction costs increase exceeds growth of private house prices in Riga

Along with an increase in the private house sector activity, the number of transactions with single family detached homes in Riga and its vicinity increased by 2.7% in 2014. As stated in the private house market overview prepared by ARCO REAL ESTATE, a positive trend was also observed in construction of private houses, where, compared to three quarters of the last year, the number of building permits issued increased by 3.5%.

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