Real Estate

International Internet Magazine. Baltic States news & analytics Thursday, 09.07.2020, 21:10

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Saeima approves the amendments allowing banks to write off irrecoverable mortgages taken out before 2008

Saeima approves the amendments allowing banks to write off irrecoverable mortgages taken out before 2008

09.07.2020

Saeima in Latvia today approved in the final reading amendment to the Credit Institution Law and Law on Personal Income Tax, which allow credit institutions to unilaterally write off debts on mortgages taken out before the 2008 economic crisis, informs LETA.

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



Vilnius refurbish the grounds around the former Sports Palace

Vilnius refurbish the grounds around the former Sports Palace

08.07.2020

Vilnius' municipal council on Wednesday gave the green light for the city to sign an agreement with Lithuania's centralized public property manager Turto Bankas on the refurbishment of the grounds of the capital's Concert and Sports Palace, a now derelict building that was built during the Soviet era on the site of an old Jewish cemetery, informs LETA/BNS.

New Hanza Capital starts construction of logistics park in Riga worth EUR 18.3 mln

New Hanza Capital starts construction of logistics park in Riga worth EUR 18.3 mln

08.07.2020

New Hanza Capital, the commercial property arm of Latvia’s ABLV Bank, which is currently in the process of liquidation, has started constriction of an A-class warehouse and logistics park in Riga at 462 Maskavas Street, LETA was told at the company.


New Hanza Capital to be renamed to Pillar Capital

New Hanza Capital to be renamed to Pillar Capital

08.07.2020

New Hanza Capital, the commercial property arm of Latvia's ABLV Bank, which is currently in the process of liquidation, will be renamed to Pillar Capital, according to a report to Nasdaq Riga about the decisions taken by the company's shareholders.

Nordecon to build Lidl store in Tartu

Nordecon to build Lidl store in Tartu

02.07.2020

Nordecon Betoon OU, part of the listed Estonian construction group Nordecon, entered into a contract with Lidl Eesti OU for the construction of a grocery store located at 29 Kalda Street in Tartu, informs LETA/BNS.


02.07.2020

Volume of new home loans plummets in Lithuania in May

The banks operating in Lithuania signed new home loan contracts worth 92.8 million euros in May, down 1.6 times from April and 1.4 times from May 2019, accordging to the Verslo Zinios writes LETA/BNS.

01.07.2020

Arco Latvia: rental market will recover after renewal of tourist flows

The Covid-19 crisis has hit the rental market hardest, but as the situation returns to normal and the flow of tourists resumes, the rental market will also recover, Aigars Smits, chairman of the board of the real estate company Arco Real Estate, told LETA.

30.06.2020

Work titled 'Head of State' wins idea competition for monument to Konstantin Pats in Estonia

A work titled "Riigipea" ("Head of State") by Toivo Tammik and Vergo Vernik won the idea competition organized for the erection of a monument to Estonia's prewar president Konstantin Pats between the Estonia Opera House and Concert Hall and Parnu Road in Tallinn, informs LETA/BNS.

30.06.2020

Estonia: Creditor of T1 contests decision to continue reorganization proceedings

Lintgen, a creditor of T1 Mall of Tallinn's owner AS Tallinna Moekombinaat, has appealed to the Tallinn Circuit Court against the June 12 decision of the Harju County Court to continue the reorganization proceedings of T1 by appointing two experts to evaluate the plan, reported LETA/BNS.

30.06.2020

Additional EUR 350 mln allotted for improving apartment buildings' energy efficiency

Additional funding of EUR 35 miln will be allocated for implementation of measures to increase energy efficiency of apartment buildings, the government decided on Tuesday, informed LETA.

29.06.2020

Colliers: The office is soon to be alive and kicking again

Colliers predicts a new revolution in office occupancy, which will see businesses balance collective in person collaboration with focused remote working opportunities.

29.06.2020

In May, construction costs in Latvia rose by 1.4% y-o-y

Data of the Central Statistical Bureau (CSB) show that, compared to April, in May 2020, the level of construction costs in Latvia increased by 0.1%. Labour remuneration of workers rose by 1.4%, maintenance and operational costs of machinery and equipment – by 0.1%, but prices of building materials – reduced by 0.5%.

29.06.2020

More and more people do not see any special advantages of living in Riga - survey

More and more people do not see any special advantages for life in Riga, according to a survey conducted by the research agency SKDS writes LETA.

26.06.2020

East Capital Real Estate acquires SEB's head office in Estonia

East Capital Real Estate IV acquires SEB's head office in central Tallinn from Partners Group and Northern Horizon. The property is the first acquisition by the fund, which targets EUR 400-500 million in assets under management, and consolidates East Capital Real Estates' position as one of the leading real estate investors in the Baltics, informed East Capital Real Estate.

25.06.2020

Self Storage invested almost EUR 4 mln in smart storage units

Self Storage from Latvia has invested almost EUR 4 million in development of smart storage units, the company's board member Augusts Iesalnieks reported.

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