Analytics, Banks, Covid-19, Crisis, Financial Services, Latvia, Real Estate

Real estate company Latio Housing Department's head Evija Dzenite said that interest in real estate had returned to the previous level, but people are now interested in different kinds of properties. Interest in building plots, private homes and farmsteads within a radius of about 100 kilometers around Riga has been growing, while interest in apartments in new apartment buildings remains unchanged.

Luminor mortgage expert Inguna Krieva said that the demand for new mortgages had been growing for about a month.

"Everything is back on track, and customers who feel financially stable are ready to consider buying a property. Interest in new projects has remained the same, but the number of new mortgages for purchases of private homes has increased 12 percent in one month," Krieva said.

Sarmite Gravelsina, an expert at Private Customer Service Department at the Development Finance Institution Altum, pointed out that demand for private homes was always higher in spring and summer, and this year was no exception.

"In April and May, the demand for Altum guarantees decreased, but now it is back to normal. We have observed that properties are being bought everywhere in Latvia, not only in Riga and Greater Riga," added Gravelsina.