International Internet Magazine. Baltic States news & analytics
Tuesday, 11.03.2014, 10:38
Investigating the Zolitude tragedy in Riga in November 2013, the police have discovered a number of bogus documents regarding construction of the Maxima supermarket, and the guilty person has already been fined, LETA learned from the State Police's Public Relations Department.
Keyword tags: Construction, Latvia, Legislation, Real Estate
Demand for the flats in new projects in Latvia has increased by 37% in 2013, while the average amount per transaction regarding the flats in new projects has increased by 42% within one year, shows the sales data figures of real estate company Ektornet.
UPB Holding, one of the leading groups of industrial companies in Latvia, has registered a subsidiary in London, which is the group's eighth subsidiary abroad, the Dienas Bizness newspaper reports, writes LETA.
Lithuania's Prime Minister Algirdas Butkevicius presented the objectives and priorities of the Government for 2014 in the Lithuania's Economic Conference held for the sixth time, informs LETA/ELTA.
In opinion of Mr. Aigars Šmits, Chairman of the Board of Directors of ARCO REAL ESTATE, the draft law prepared by the Ministry of Economics stipulating provision of support to young families, who want to purchase a home, would not be an effective way to help people. In contrast, an increase of the number of municipal apartments for rent and offering the apartments for long-term rent would give real benefits, says Mr. A. Šmits.
Results of the survey on income and living conditions carried out by the Central Statistical Bureau show that in 2013 housing maintenance expenditure of households1 has increased, reaching 134 euros per month.
According to Newsec – the Full Service Property House in Northern Europe – 2013 was a real RESTART for the Baltics. Volume of property investment transactions reached precrisis level and is expected to beat the record in 2014 already. Spectacularly recovering demand forces new developments in both commercial and residential sectors.
In February 2014, real estate market was active only in Lithuanian cities. Meanwhile, real estate trade last month was very similar to that in February 2014, says the Centre of Registers, cites LETA/ELTA.
The international real estate consultancy company Colliers International will hold two auctions of real estate located in Riga belonging to BAB bankas Snoras. The first estate to be auctioned is the former headquarters of Krājbanka at Skanstes Street, followed by the historical building in Doma Square at 23 Pils Street.
The Finance Ministry of Latvia is prepared to continue cooperation with the Jurmala City Council and lend the necessary funds for the purchase of the Kemeri Sanatorium complex, the government announced yesterday, cites LETA/Nozare.lv.
Lithuania's Speaker of the Seimas Loreta Grauziniene met with Mayor of Utena District Alvydas Katinas and staff of the administration, informs LETA/ELTA.
In January 2014, compared to December of the previous year, level of construction costs in Latvia reduced by 0.2%. Compared to January of previous year, construction costs grew by 0.5%.
According to the preliminary data of Statistics Estonia, in 2013 the total production of Estonian construction enterprises in Estonia and in foreign countries amounted to 2.2 billion euros, which is 0.7% more than in 2012. If only the Estonian construction market is considered, the construction volumes grew 2%.
Statistics Lithuania informs that construction input prices in January 2014, against December 2013, decreased by 0.2%. The change was mainly influenced by a 0.3% decrease in prices for building materials and products. Over the year (January 2014, against January 2013), construction input prices increased by 3.5%.
In June 2012, Estonian construction company Nordecon began court proceedings in the arbitrary court of Estonian Chamber of Commerce and Industry against Estonian Maritime Museum regarding the claims and surcharges arising from construction contract (signed as the result of public tender) for the reconstruction works at Seaplane Harbor exhibition building in Tallinn, the court on February 26, 2014, decided to favor Nordecon, the company reported LETA.